This bill authorizes the commissioner of the division of capital asset management and maintenance to release specific land use restrictions in the city of Revere, Massachusetts. The restrictions being lifted include limitations on the use of the parcel solely for parking, prohibitions against enhancing the floor area ratio of adjacent properties, and a right of reverter associated with a previous deed. The land in question is identified as Lot 6A and is part of a plan recorded with the Suffolk County registry of deeds.

In exchange for the release of these restrictions, the bill mandates that the owner of the land must pay the full and fair market value of the restrictions, as determined by an independent appraisal. The appraisal process includes a review by the inspector general, who will provide comments and a report to the commissioner. Additionally, the bill stipulates that at least 10% of all housing units developed on the released parcels must be designated as affordable housing, ensuring that these units remain affordable for households earning up to 80% of the area median income for a period of 20 years.