Cheshire must sell three state parcels for allowed uses by 2031

The transportation commissioner conveys three state parcels to Cheshire for the administrative cost of the transfer. The parcels are Lots 31, 32, and 33 on Cheshire Tax Assessor's Map 4; the commissioner determines their precise areas. The State Properties Review Board must approve the conveyance. This provision takes effect upon passage.

Cheshire sells the parcels for an allowed purpose before July 1, 2031; otherwise, they revert to the state. This applies to the three parcels conveyed to Cheshire. Allowed purposes are economic development, a medical facility, housing, or preserving open space. The sale must occur before July 1, 2031.

Cheshire sells the parcels for fair market value and transfers the sale money to the State Treasurer for the Special Transportation Fund. This applies to any sale of the conveyed parcels. Fair market value is based on the average of two appraisals by independent appraisers selected by the commissioner. The appraisals must be completed no later than six months after the conveyance and updated as needed. The appraisals must be completed no later than six months after the conveyance and updated as needed.