State SealARIZONA HOUSE OF REPRESENTATIVES

 

SB1147: municipal economic development; sale; lease

PRIME SPONSOR: Senator Leach, LD 11

BILL STATUS: Ways & Means

                               

 

Overview

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteOutlines requirements for a city or town to sell or lease municipal land or buildings for economic development activities.

History

A city or town may sell and convey all or any part of its real or personal property, whether or not the property is devoted exclusively for public use. Before a sale can be made, the city or town must publish an invitation for bids in a newspaper of general circulation and by posting notice in three or more public places in the city or town. (A.R.S. §9-402) Real property of a city or town valued at more than $1,500,000 can only be sold if approved by the voters of the city or town at a special election. If the measure is approved, the governing body of a city or town may sell the property at public auction, after giving public notice, to the highest bidder for cash, reserving the right to reject any and all bids. (A.R.S. §9-403)

Provisions

1.       Requires the governing body of the city or town to appoint an experienced, independent appraiser to determine the sale or lease valuation of any land or building for economic activities. (Sec. 1)

2.       Excludes the appointment of an appraiser if the land or building is estimated and justified by a market analysis to be valued at less than $50,000. (Sec. 1)

3.       Requires the governing board to make the appraisal report or market analysis available to the public on the governing body's website for four consecutive weeks before executing any sale or lease. (Sec. 1)

4.       Requires the governing body to give notice of a proposed sale or lease in a newspaper of general circulation once each week for four consecutive weeks and on the governing body's website. (Sec. 1)

5.       Requires the notice to include all material conditions of the proposed sale or lease, including the valuation of the land or building. (Sec. 1)

6.       Defines economic development activities. (Sec. 1)

7.       Contains a legislative intent clause. (Sec. 2)

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11.   Fifty-fourth Legislature                       SB 1147

12.   First Regular Session                            Version 1: Ways & Means

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