PARRIS N. GLENDENING, Governor

Ch. 525

(6) At the conclusion of the sale, the Administration's representative in
charge of the sale shall announce publicly the name of the highest bidder and the amount
of the bid. If the highest bid does not approximate the appraised value of the land, the
representative may reject all bids and cancel the sale.

(7) The results of the sale shall be recorded and, if the highest bid was
accepted by the Administration's representative, 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.

(8) If there is no bidder for the land, if all bids are rejected and the sale
canceled as provided in paragraph (6) of this subsection, or if the Administrator considers
all bids inadequate, the land shall be reoffered for sale within 6 months on the same terms
and in the same manner as the original sale.

(9) At the second sale, if there is no bidder for the land, if all bids are
rejected and the sale canceled as provided in paragraph (6) of this subsection, or if the
Administrator considers all bids inadequate, the Administrator may negotiate a sale of
the land. If the Board of Public Works approves the negotiated sale and the deed, the
Administrator may execute a deed conveying the land to the buyer.

(d) As to any land from a completed project, if the Administration considers the
land to be too small or otherwise unsuitable for private use or development, the
Administration shall establish a plan of disposal for that land. If the Board of Public
Works approves the plan and the deed, the Administrator may execute a deed conveying
the land under the plan.

(e) (1) Notwithstanding any other provision of this section, the Administration
may convey land from an abandoned or completed transportation project by exchanging
the land for privately or publicly owned land of substantially equal value when the land to
be acquired by the exchange is needed for a current State highway purpose that has been
identified within the current consolidated transportation program as approved by the
General Assembly, or has otherwise received prior legislative approval for planning.

(2) In the case of an abandoned or completed project, the person from
whom the land was acquired, or the successor in interest of that person, shall have the
first right of refusal to reacquire the land, except that the offer and acceptance shall be as
follows:

(i) The Administration shall notify the person from whom the land
was acquired, or the successor in interest of that person, in writing, by certified mail,
return receipt requested of the proposed exchange and the value of the property;

(ii) Within 90 days from the date of the notice, the person from whom
the land was acquired, or the successor in interest of that person, shall notify the
Administration in writing of its intent to exercise its right to reacquire the land; and

(iii) Within 90 days from the date of notifying the Administration of its
intent to reacquire the land, the person from whom the land was acquired, or the
successor in interest of that person, must tender payment of an amount equal to the lesser
of:

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