Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, the town of Hingham, acting by or through its board of selectmen, may sell or transfer a parcel of land containing approximately 2.72 acres currently used by the town for park and recreation purposes to the Thomas J. Hastings Co., LLC or other grantee as identified in and pursuant to the terms and conditions in the Development Agreement dated April 25, 2005, between the board of selectmen and the Thomas J. Hastings Co., LLC. The parcel is shown as Lot A on a plan entitled "Proposed Zoning Plan of Land, 224 Beal Street, Hingham, MA 02043," prepared by Coler & Colantonio, dated March 14, 2005, as amended on March 28, 2005, in this act called the Plan.
SECTION 2. In consideration of the conveyance described in section 1, the town shall receive a parcel of land identified as Lot C on the Plan and improvements to the adjacent town-owned land within Bare Cove Park, pursuant to the terms and conditions set forth in the Development Agreement referred to in section 1. Lot C shall be transferred to the town for park and recreation purposes. The board of selectmen shall determine whether this parcel is equal to or greater than the full and fair market value of the property described in section 1, or its value in use as proposed, whichever is greater, as determined by independent appraisal. If there is a disparity in these values in favor of the grantee, the grantee shall pay a sum equal to the difference to the town.
SECTION 3. The grantees of Lot A shall pay for all costs of any appraisals, surveys and other expenses for the conveyances authorized by this act as may be considered necessary by the board of selectmen.
SECTION 4. This act shall take effect upon its passage.
Approved March 31, 2006.