An Act To Allow the Efficient and Responsible Acquisition and Sale of Property by the Department of Administrative and Financial Services
Sec. 1. 5 MRSA c. 153, sub-c. 3 is enacted to read:
SUBCHAPTER 3
STATE PROPERTY ACQUISITION AND SALE AUTHORITY
§ 1777. State property acquisition and sale authority
The bureau may sell, demolish or dispose of property only in a manner that is transparent, competitive, orderly, timely and cost-effective.
SUMMARY
This bill authorizes the Department of Administrative and Financial Services, Bureau of General Services to acquire real estate determined necessary to meet the needs of the State. It authorizes the sale or disposition of real property determined necessary to maximize financial return and to manage the long-term planning needs of the State. It requires that a current opinion of value by a real estate appraiser be obtained and that the purchase or sale price reflect the opinion and current market conditions when the State enters into a real estate transaction.