State property commissioner could change use limits in Malden

The state property commissioner may release or change the use restrictions on the specified Malden property. The property is at 89 Summer Street, the former Malden District Court, and 0 Summer Street, used as its parking lot. The restrictions limit use to nonprofit recreation, education, community activities, and related uses.

For other proposed sales or reuses, the commissioner determines the consideration in consultation with Malden's mayor, and net proceeds go to the Commonwealth when the property is later conveyed to a third party for development. These terms apply to other proposed sales or reuses of the property described in section 1. Net proceeds are the third-party sale price minus the city's $480,000 purchase price and costs tied to changing the restrictions and the sale or redevelopment. If net proceeds are negative, the Commonwealth does not have to make payments to the City of Malden. Payment to the Commonwealth is due when the property is later conveyed to a third party for development.