NC H959

Creates a new process for the Department of Transportation to identify and sell unused property by classifying it into three categories (Class A, B, and C) based on development potential and size.

Class A properties (developable standalone) are sold by public auction to the highest bidder with newspaper advertisement and public notice; contingent bids allowed with earnest money requirements for periods exceeding 60 days.

Class B and C properties are first offered for negotiated sale to adjacent landowners at a minimum of 40% of appraised value, with upset bid opportunities only if the highest offer is below 80% of appraised value (Class B only).

Any unused property unsold after one year must be auctioned with reserves of 40% (Class A), 30% (Class B), or no reserve (Class C) of appraised value.

Requires Governor and Council of State notification of proposed sales valued at $25,000 or more, though their approval is not required; they may disapprove within 30 days.