This bill amends West Virginia Code §8-12-18 to increase the threshold value for municipal property that must be sold through public auction from $1,000 to $10,000. Additionally, it introduces provisions that allow municipalities to negotiate the sale of real property directly to adjacent property owners when the governing body determines that the highest and best use of the property is for it to be conveyed to those owners. In such cases, the municipality is required to provide written notice to all adjacent property owners and may engage in negotiations with interested parties.

The bill also maintains existing regulations regarding the sale, lease, or disposition of municipal property, ensuring that any sale or lease is conducted for fair and adequate consideration. It emphasizes the need for public notice and auction procedures, while also allowing municipalities the flexibility to bypass these requirements for lower-value transactions or when negotiating with adjacent property owners. Overall, the bill aims to streamline the process for municipalities in managing their real property assets while ensuring transparency and fairness in transactions.

Statutes affected:
Introduced Version: 8-12-18