Plain English Breakdown
The effective date is listed as 'from passage,' but the specific calendar date of final enactment is not provided in the text excerpt.
Transfer of State Land in Derby
This law requires the Commissioner of Transportation to transfer specific parcels of state land in Derby to the Connecticut Municipal Development Authority at fair market value.
What This Bill Does
- Requires the Commissioner of Transportation to convey ten identified lots and one additional lot totaling approximately 1.5 acres in Derby to the Connecticut Municipal Development Authority.
- Sets the cost equal to the average of two independent appraisals plus administrative costs.
- Mandates that the State Properties Review Board must approve the deal within 30 days of receiving a proposed agreement.
- Directs any funds received from this land transfer to be deposited into the Special Transportation Fund.
Who It Names or Affects
- The Commissioner of Transportation
- The Connecticut Municipal Development Authority
- The State Properties Review Board
Terms To Know
- Conveyance
- The legal act of transferring ownership or title of land from one party to another.
- Fair market value
- The price determined by averaging the appraisals of two independent appraisers selected by the Commissioner, plus administrative costs.
Limits and Unknowns
- The precise size and area of the parcels will be finalized later by the Commissioner of Transportation.
- This law does not specify what the Connecticut Municipal Development Authority plans to build or do with the land after buying it.