All state agencies shall offer the Maine Redevelopment Land Bank Authority the opportunity to purchase or otherwise acquire any land and improvements on the land or any structures determined to be surplus before the property may be offered for sale or transfer to any other state agency, community or other buyer or transferee. Notice of availability must be provided in writing to the executive director of the Maine Redevelopment Land Bank Authority.

1. 1. Notification of interest The Maine Redevelopment Land Bank Authority shall advise the owner agency in writing of its interest in purchasing or otherwise acquiring the surplus land and any improvements on the land or surplus structures or of its decision not to purchase or otherwise acquire any such surplus property within 30 days of receipt of the notification by the executive director of the Maine Redevelopment Land Bank Authority.

   [PL 2025, c. 264, §3 (AMD).]

2. 2. Purchase price If the Maine Redevelopment Land Bank Authority offers to purchase the property, the purchase price must be determined as follows.

   1. A. The current market value must be determined by an independent appraiser or by agreement between the Maine Redevelopment Land Bank Authority and the owner agency. The Maine Redevelopment Land Bank Authority and the owner agency then shall negotiate the ultimate purchase price in good faith in order to achieve the respective goals and mandates of the Maine Redevelopment Land Bank Authority and the owner agency.

      [PL 2025, c. 264, §3 (AMD).]

   2. B. The purchase price may not exceed the current market value of the property as determined in paragraph A.

      [PL 1989, c. 914, §5 (NEW).]

   3. C. If title to the land or improvements carries a requirement that the property be sold at fair market value, then this requirement prevails over the terms of this subsection.

      [PL 1989, c. 914, §5 (NEW).]

   [PL 2025, c. 264, §3 (AMD).]

3. 3. Report

   [PL 2025, c. 264, §3 (RP).]

PL 1989, c. 914, §5 (NEW). PL 2025, c. 264, §3 (AMD).