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MARVIN MANDEL, Governor 379
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THIS SECTION IN THE SAME MANNER AS IF THE LAND HERE FROM
A PROJECT THAT HAS BEEN COMPLETED OR OTHERWISE AS
PERMITTED BY THIS SECTION.
(C) COMPLETED PROJECT — DISPOSITION OF
DEVELOPABLE LAND.
(1) AS TO LAND FROM A COMPLETED PROJECT, IF
THE ADMINISTRATION CONSIDERS THE LAND TO BE LARGE ENOUGH
AND OTHERWISE SUITABLE FOR PRIVATE USE OR DEVELOPMENT,
THE ADMINISTRATION SHALL SELL THE LAND AT PUBLIC AUCTION
AS PROVIDED IN THIS SUBSECTION.
(2) BEFORE THE SALE:
(I) THE ADMINISTRATION SHALL APPRAISE THE
LAND; AND
(II) IF THE ADMINISTRATION BELIEVES THAT THE
LAND HAS A VALUE OF MORE THAN $5,000, THE LAND ALSO SHALL
BE APPRAISED BY AT LEAST ONE INDEPENDENT, QUALIFIED REAL
ESTATE APPRAISER.
(3) THE ADMINISTRATION SHALL NOTIFY THE
PUBLIC OF THE SALE BY:
(I) POSTING A NOTICE OF THE SALE ON THE LAND
AT LEAST 2 WEEKS BEFORE THE SALE; AND
(II) PUBLISHING THE NOTICE FOR 2 CONSECUTIVE
WEEKS IN A NEWSPAPER THAT IS PUBLISHED OR HAS GENERAL
CIRCULATION IN THE COUNTY IN WHICH THE PROPERTY IS
LOCATED.
(4) THE NOTICE OF THE SALE SHALL:
(I) DESCRIBE GENERALLY THE PROPERTY TO BE
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SOLD;
SALE; AND
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(II) STATE THE DATE, TIME, AND PLACE OF THE
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(III) CONTAIN ANY OTHER INFORMATION THAT THE
ADMINISTRATION CONSIDERS PROPER.
(5) THE SALE SHALL BE HELD ON OR NEAR THE
LAND AND MAY BE CONDUCTED BY ADMINISTRATION PERSONNEL.
(6) AT THE CONCLUSION OF THE SALE, THE
ADMINISTRATION SHALL ANNOUNCE PUBLICLY THE NAME OF THE
HIGHEST BIDDER AND THE AMOUNT OF THE BID.
(7) THE RESULTS OF THE SALE SHALL BE RECORDED
AND PRESENTED TO THE ADMINISTRATOR FOR APPROVAL OR
REJECTION. IF THE ADMINISTRATOR APPROVES THE SALE, THE
ADMINISTRATOR MAY EXECUTE A DEED CONVEYING THE LAND TO
THE BUYER.
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