(b) Based on the review of the inventory of real property, the Real Estate Division shall:

1. (1) Identify any real property owned or leased by the state that is not being used or that is being substantially underused;

2. (2) Make recommendations to the Governor and the Secretary of the Department of Administration regarding the use of real property, which shall include:

   1. (A) An analysis of the highest and best use to which the real property may legally be placed; and
   2. (B) An analysis of alternative uses of the real property addressing the potential for any other transaction or use that the Real Estate Division determines to be in the best interest of the state; and

3. (3) Submit to the Governor and the Secretary of the Department of Administration any information pertinent to the evaluation of a potential transaction involving the real property, including:

   1. (A) An evaluation of any proposals received from private parties that would be of significant benefit to the state; and
   2. (B) The market value of such real property.