California Government Code

§ 11011.28

GOV § 11011.28 Effective Jan 1, 2021Div. 3 · Title 2 · Part 1 · Ch. 1 · Art. 1

Statute text

(a)Notwithstanding Section 11011.1, the Director of General Services may sell, at fair market value, to the City of Norwalk, upon those terms and conditions the director determines are in the best interests of the state, all or any part of the following real property by January 1, 2025: Approximately 32 acres of property, known as the Southern Youth Correctional Reception Center and Clinic, located at 13200 South Bloomfield Avenue, Norwalk, in the County of Los Angeles.

(b)To the extent bonds issued by the State Public Works Board involve the property to be sold or leased pursuant to this section, all issuer- and trustee-related costs associated with the review of any proposed sale or lease, together with the costs related to the defeasance or retirement of any bonds, which may include the cost of nationally recognized bond counsel, shall be paid from the proceeds of any sale or lease authorized by this section.

(c)In setting the purchase price for the property, the director may permit a sales price at less than fair market value if the director determines that such a discount will enable the provision of additional housing for persons and families of low or moderate income. For the purposes of this section, fair market value is established by an appraisal or economic evaluation conducted by the department and approved by the department.

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Legislative history

Amended by Stats. 2020, Ch. 43, Sec. 1. (AB 518) Effective January 1, 2021.