An Act relative to the release or amendment of certain use restrictions for certain property in the city of Malden

This bill allows the Commissioner of Capital Asset Management and Maintenance to lift or change specific rules that currently limit the use of a building and land at 89 Summer Street in Malden. These restrictions, which require the property to be used for nonprofit recreational, educational, or community purposes, were originally placed by the state when it acquired the former district court site. The legislation sets up a process where the city and state agree on the terms for releasing these limits, with any profit from a future sale going back to the Commonwealth. If the sale results in a financial loss after accounting for transaction costs, the state does not have to pay the city any money.