CT SB01204

Commissioner of Transportation shall convey three parcels of state land in Cheshire to the town at cost equal to administrative expenses: Lot 31 (3.59 acres), Lot 32 (0.88 acre), and Lot 33 (43.6 acres) on Tax Assessor's Map 4.

Town of Cheshire must sell the parcels for economic development purposes within five years or the land reverts to the state.

Sale price shall equal fair market value determined by average of two independent appraisals selected by the commissioner, with appraisals completed within six months of conveyance.

All funds from the sale must be transferred to the State Treasurer for deposit in the Special Transportation Fund.

State Properties Review Board must complete its review within 30 days of receiving the proposed agreement from the Department of Transportation, and the State Treasurer shall execute the necessary deed.