MA H3420

Authorizes the Commissioner of Capital Asset Management and Maintenance to release land use restrictions on Lot "6A" in Revere, including restrictions limiting the parcel to parking purposes only and prohibiting use to enhance floor area ratios on adjacent properties

Releases the commonwealth's right of reverter originally created under Chapter 443 of the Acts of 2004 and recorded in December 2006 to the Festa Towers Irrevocable Trust

Requires the landowner to pay full and fair market value for the released restrictions, based on an independent appraisal reviewed and approved by the Inspector General

Mandates the commissioner submit agreements to the Inspector General for review 30 days before execution, and to legislative committees at least 15 days before execution

Assigns all costs for engineering, surveys, appraisals, and deed preparation to the landowner