SECTION 1. Chapter 131 of the acts of 1998 is hereby repealed.

SECTION 2. Notwithstanding sections 32 to 37, inclusive, of chapter 7C of the General Laws or any other general or special law to the contrary, the commissioner of capital asset management and maintenance may transfer and convey to the city of Lowell for general municipal purposes: (1) a certain parcel of land described in a deed recorded with the Middlesex North registry of deeds in book 2583 and page 326 and shown on a plan entitled, “Compiled Plan of Land in Lowell, Mass., Prepared for Lowell Electronic Park Realty Trust, Scale 1”- 40’, July 1982, Stowers Associates Inc.”, recorded with said Middlesex North registry of deeds in book 138, plan 111; and (2) a certain parcel of land described in a deed recorded with said Middlesex North registry of deeds in book 2469 and page 630 and shown as parcel 1 on a plan entitled, “Plan of Property Owned by Manzi Sales & Service, Inc. The Commonwealth of Massachusetts, Broadway Street, Lowell, Massachusetts, dated November 27, 1979, by Cullinan Engineering Co., Inc.” and recorded with said Middlesex North registry of deeds in book 133, page 86.

SECTION 3. The conveyance described in section 2 shall be subject to such conditions and restrictions as may be deemed necessary or appropriate by the commissioner of capital asset management and maintenance, and may provide for compensation from the city of Lowell for the full and fair market value of the property as determined by an independent appraisal, for its use as described herein. The city of Lowell may provide said compensation in the form of land or interest in lands of greater or equal value as determined by an independent appraisal, or a combination of land, funds, or in-kind services. The inspector general shall review and approve the appraisal and the review shall include an examination of the methodology utilized for the appraisal. The inspector general shall prepare a report of the review and file such report with the commissioner of capital asset management and maintenance for submission to the house and senate committees on ways and means and the chairs of the joint committee on state administration and regulatory oversight.