AN ACT CONCERNING CONVEYANCE OF PARCELS OF STATE LAND IN THE TOWN OF DERBY.

This bill directs the Connecticut Department of Transportation to transfer approximately 1.5 acres of state-owned land in Derby to the Connecticut Municipal Development Authority for redevelopment purposes. The transfer will only occur after the State Properties Review Board approves the agreement, and the land will remain under state control until the formal deed is executed. The Municipal Development Authority must then issue a request for proposals to develop the land for mixed-use projects, with all proceeds from any sales or leases going to the state's Special Transportation Fund. If the authority fails to develop the land within ten years, ownership will revert back to the state.