MI HB6549

State administrative board authorized to convey state-owned property formerly under Department of Human Services jurisdiction, specifically the Adrian training school in Adrian, Lenawee County, consisting of two parcels (55.25 acres and 0.01 acres).

City of Adrian has first right to purchase the property for 180 days after the act's effective date and may acquire it for less than fair market value.

If Adrian declines, the department of technology, management, and budget may sell the property through competitive bidding, public auction, real estate brokerage, value-for-value negotiation, or conveyance to a land bank fast track authority.

Conveyances to local government units must restrict use to public purposes and include state reentry rights if the property is used inconsistently with its public purpose; if property is sold within 10 years, the state retains right of first purchase at original sale price or receives 40% of profit above original sale price.

Net revenue from property sales, after deducting administrative costs, environmental remediation, legal fees, and related expenses, shall be deposited in the state general fund; state retains one-half of gross revenue from any oil, gas, or mineral development and reserves all aboriginal antiquities found on the property.