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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE II EXECUTIVE AND ADMINISTRATIVE OFFICERS
    OF THE COMMONWEALTH
  • CHAPTER 23G THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
  • Section 17 Disposition of lands; valuation

Section 17. Any disposition of lands, or an interest therein, which were acquired by the Agency pursuant to section 16 may be made in such manner whether by sale, lease, or otherwise, by parcels which are the same as or different from those by which they were acquired or taken possession of by the Agency, and for such price, rental or other consideration payable over such term, and bearing interest as to deferred payments and secured in such manner, by mortgage or otherwise, all as the Agency may determine to be desirable and consistent with any applicable provisions of any applicable redevelopment or incubator development plan.

Prior to the disposition of state surplus lands or an interest therein which were acquired by the Agency pursuant to section 16 to a natural person or entity, the Agency shall undertake an independent determination of the value of such lands through procedures customarily accepted by the appraising profession as valid for determining property value. If such disposition is for consideration which is less than such value, the Agency shall, prior to such disposition, disclose in the central register published by the secretary of state the difference between the value of such parcel and disposition price of such parcel and by notice to the house and senate committees on ways and means.

The Agency may, in accordance with the provisions of section 2 of chapter 30A of the General Laws, adopt such rules and regulations as it may deem desirable for the exercise of its powers and the discharge of its duties as provided in this section.