SECTION 1. 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, shall convey to the University of Massachusetts Building Authority, a body politic and corporate of the Commonwealth of Massachusetts, Chapter 773 of the Acts of 1960, as amended, the parcels of land located at 99 Perkins Street, identified as Parcel 5 on an Approval Not Required Plan entitled “Lawrence Mills Redevelopment, Lowell, Massachusetts,” revised January 28, 2004, prepared by Harry R. Feldman, Inc. for E. A. Fish Associates, and recorded at the Middlesex North Registry of Deeds in Plan Book 214 as plan 104; and, 720 Suffolk Street, Lot 720B identified on an Approval Not Required Plan entitled “Perkins Street, Lowell, Massachusetts,” dated January 6, 2005, prepared by Harry R. Feldman, Inc. for the Division of Capital Asset Management, and recorded at the Middlesex North Registry of Deeds in Plan Book 218 as plan 57.

SECTION 2. The University of Massachusetts Building Authority shall be responsible for all costs and expenses including, but not limited to, costs associated with any engineering, appraisals, surveys and deed preparation related to the conveyance authorized in this section as such costs may be determined by the commissioner of capital asset management and maintenance.

SECTION 3. The proceeds of the sale, lease, transfer, or other disposition of 99 Perkins Street and 720 Suffolk Street may be expended for costs associated with the disposition and redevelopment of the property from which the funds originated, including, but not limited to, appraisals, surveys, deed preparation, site preparation, plans, recording fees, smart growth review and feasibility and other marketing studies and any other expenses relating to the disposition of the property or the redevelopment of the property or other parcels on the university’s East Campus for university uses. The cash proceeds of the sale, lease, transfer, or other disposition of 99 Perkins Street and 720 Suffolk Street, net of said expenses, if any, shall be disbursed for deferred maintenance/capital projects at the University of Massachusetts-Lowell campus by the University of Massachusetts Building Authority as directed by the University of Massachusetts Board of Trustees.

SECTION 4. The provisions of this act shall take effect upon passage.