[Code of Federal Regulations]
[Title 41, Volume 3]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 41CFR102-75.75]

[Page 140]
 
           TITLE 41--PUBLIC CONTRACTS AND PROPERTY MANAGEMENT
 
               CHAPTER 102--FEDERAL MANAGEMENT REGULATION
 
PART 102-75--REAL PROPERTY DISPOSAL--Table of Contents
 
Sec. 102-75.75  What is a negotiated sale for economic development purposes?

    A negotiated sale for economic development purposes means that the 
public body purchasing the property will develop or make substantial 
improvements to the property with the intention of reselling or leasing 
the property in parcels to users to advance the community's economic 
benefit. This type of negotiated sale is acceptable where the expected 
public benefits to the community are greater than the anticipated 
proceeds derived from a competitive public sale.