760 CMR 12.04 - Land Acquisition
(1)
Appraisals. Two independent appraisals must be submitted
for Department approval prior to the acquisition of any parcel, including parcels
acquired by eminent domain, by negotiated sale, or through any other means, except
as set out in 760 CMR12.04(3). If deemed necessary, the Department may request an
additional appraisal. The urban renewal agency's determination of the proposed
acquisition price shall be based on review of the appraisals. The acquisition price
shall not be less than the lowest appraisal, nor more than the highest
appraisal.
(2)
Negotiations
and Condemnation. The urban renewal agency may negotiate for the
purchase of one or more parcels after the Urban Renewal Plan has been approved by
the Department. Negotiations may be performed by a member of the urban renewal
agency staff experienced in real estate matters or by a licensed broker under
contract. The negotiated acquisition price shall be approved by the Department.
Approval by the Department of the acquisition price for a parcel shall constitute
the Department's concurrence in the institution of condemnation proceedings,
provided that the urban renewal agency shall have made every reasonable effort to
acquire the property through purchase. All condemnation proceedings shall be
authorized by the urban renewal agency's governing body and shall be carried out in
accordance with M.G.L. c. 79.
(3)
Donations, Transfers from Another Public Entity, Tax Takings, Public
Auction. Property acquired through donation from either a public or
private entity, through a transfer from another public entity, through a tax
foreclosure or through a public auction does not require an appraisal. However,
prior to disposing of the property in accordance with
760 CMR
12.05, urban renewal agencies must obtain
disposition appraisals.
Notes
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