SECTION 1. The commissioner of the division of capital asset management and maintenance, subject to sections 40E to 40J, notwithstanding 40H, of chapter 7 of the General Laws, and the provisions of this act, may sell and convey by deed approximately 5,000 square feet of commonwealth-owned property, currently under the care and control of Roxbury Community College, and located at the intersection of Centre Street and Columbus Avenue in the city of Boston to Jackson Square Partners LLC for activities consistent with the Jackson Square Redevelopment Area. The commissioner shall establish the exact boundaries of the parcel, based upon a survey to be performed prior to such conveyance.
SECTION 2. The consideration for the conveyance authorized by this act shall be not less than the full and fair market value of the property for its highest and best use, determined by the commissioner of the division of capital asset management and maintenance based on an independent professional appraisal. The inspector general shall review and approve the appraisal and the review shall include a review of the methodology utilized for said appraisal. Said inspector general shall have 30 days after receipt of said appraisal and a report by the commissioner for his review and approval. Said inspector general shall submit a report on his review and approval of said appraisal to said commissioner. At least 15 days before conveying of property, said commissioner shall submit a copy of said inspector general’s report to the house and senate committees on ways and means and the house and senate committees on bonding, capital expenditure and state assets.
SECTION 3. All monies received as a result of this conveyance shall be deposited in an expendable trust, to be established on behalf of Roxbury Community College, in order to further to support the educational mission of the college.
SECTION 4. The grantee of the property shall be responsible for all cost and expenses of the transaction authorized by this act as determined by the commissioner of the division of capital asset management and maintenance, including without limitation, the cost of any survey, appraisal and other expenses relating to the conveyance of this property, and shall be responsible for all costs, liabilities and expenses of any nature and kind for its ownership. The recipient shall acquire said property in its existing condition without any warranty by the commonwealth.
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