The division may transfer title to a parcel of land it owns in a county of the first class to a public transit district for the purpose of facilitating the development of a commuter rail transit station and associated transit oriented development if:

1. (1) the parcel is within one mile of the proposed commuter rail transit station and associated transit oriented development; and
2. (2) the division receives in return fair and adequate consideration.

Renumbered and Amended by Chapter 152, 2020 General Session