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7 LONG TITLE
8 General Description:
9 This bill allows a county to dispose of real property at less than fair market value in
10 order to meet a significant public interest.
11 Highlighted Provisions:
12 This bill:
13 ▸ allows a county to dispose of real property at less than fair market value in order to
14 meet a significant public interest; and
15 ▸ makes technical and conforming changes.
16 Money Appropriated in this Bill:
17 None
18 Other Special Clauses:
19 None
20 Utah Code Sections Affected:
21 AMENDS:
22 17-50-312, as last amended by Laws of Utah 2007, Chapter 291
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24 Be it enacted by the Legislature of the state of Utah:
25 Section 1. Section 17-50-312 is amended to read:
26 17-50-312. Acquisition, management, and disposal of property.
27 (1) Subject to Subsection (4), a county may purchase, receive, hold, sell, lease, convey,
28 or otherwise acquire and dispose of any real or personal property or any interest in such
29 property if the action is in the public interest and complies with other law.
30 (2) Any property interest acquired by the county shall be held in the name of the county
31 unless specifically otherwise provided by law.
32 (3) The county legislative body shall provide by ordinance, resolution, rule, or
33 regulation for the manner in which property shall be acquired, managed, and disposed of.
34 (4) (a) Each county shall, by ordinance, define what constitutes:
35 (i) a "significant parcel of real property" for the purposes of this Subsection (4); and
36 (ii) "reasonable notice" for purposes of Subsection (4)(b)(i).
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38 county shall:
39 (i) provide reasonable notice of the proposed disposition at least 14 days before the
40 opportunity for public comment under Subsection (4)[
41 (ii) allow an opportunity for public comment on the proposed disposition.
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43 [
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45 (c) (i) A county may dispose of a significant parcel of real property at less than fair
46 market value if the disposition of the property at less than fair market value is necessary to
47 meet a significant public interest.
48 (ii) When evaluating whether the sale of real property under Subsection (4)(c)(i) at less
49 than fair market value is necessary to meet a significant public interest, the county shall make
50 findings regarding:
51 (A) the long-term economic potential for the real property;
52 (B) the county's long-term plans for the real property and the area surrounding the real
53 property; and
54 (C) whether the projected five-year economic benefit resulting from the sale is greater
55 than the difference between the property's fair market value and the property's sale price.
Legislative Review Note
Office of Legislative Research and General Counsel