Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, the town of Saugus may convey certain parcels of conservation land to S. Joseph Procopio, Trustee of Vinegar Hill Realty Trust, under a Declaration of Trust dated October 4, 1994, and recorded with Essex south district registry of deeds, at Book 12773, Page 342, for residential development. The parcels are Parcels G10-01-51; F10-11-36; G10-13-04; G10-12-02; G10-01-39; G10-11-07; and Parcel G10-01-29 on the Saugus Assessor's Plan.
SECTION 2. In consideration for the conveyance authorized in section 1, S. Joseph Procopio, Trustee of Vinegar Hill Realty Trust and Procopio Construction Co. Inc. shall convey certain parcels of land to the town of Saugus, which shall be placed under the care, custody and control of the conservation commission of the town to be used for conservation purposes under section 8C of chapter 40 of the General Laws. The parcels are shown as OS-1, OS-2 and OS-3 on a plan of land entitled "Definitive Plan Cluster Residential Subdivision, Stonecliffe Heights, Saugus, Massachusetts" dated October 18, 2001, revised November 15, 2001, drawn by Otte & Dwyer, Inc., Land Surveyors, and McKenzie Engineering Group, Inc. The land being conveyed by Procopio Construction Co. Inc. to the town shall be of equal or greater value than the parcels being conveyed in section 1 by the town to S. Joseph Procopio, Trustee of Vinegar Hill Realty Trust.
SECTION 3. This act shall take effect upon its passage.