Sec. 5. Exemptions. Resolved: That the state property must first be offered to the Town of Ludlow; and be it further

Sec. 6. Appraisal. Resolved: That the commissioner shall have the current market value of the state property determined by an independent appraiser. The commissioner may list the state property for sale or lease with private real estate brokers at the appraised value of the state property and negotiate sales or leases, solicit bids, sell directly to purchasers or enter directly into leases with tenants. The commissioner may reject any offers.

The commissioner shall establish the rent or purchase price and the terms of lease or sale.

If the commissioner elects to solicit bids, the commissioner shall publish notices of sale sufficient to advertise the state property. The commissioner may reject any bids; and be it further

Sec. 7. Proceeds. Resolved: That any proceeds from sales pursuant to this resolve must be deposited in the Maine State Housing Authority's Housing Opportunities for Maine Fund, as established in the Maine Revised Statutes, Title 30-A, section 4853; and be it further

Sec. 8. Repeal. Resolved: That this resolve is repealed 5 years from its effective date.

SUMMARY

This resolve authorizes the Commissioner of Administrative and Financial Services to release the State's interest in state property formerly used for school purposes in the Town of Ludlow.