Whereas , The deferred operation of this act would tend to defeat its purpose, which is to authorize forthwith conveyance of certain land in the city of Revere, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

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 the provisions of sections 40H and 40I, inclusive, of chapter 7 of the General Laws or any other general or special law or rule or regulation to the contrary, the commissioner of the division of capital asset management and maintenance may convey a certain parcel of state-owned land in the city of Revere to Joseph A. Festa, Jr. and John V. Festa, Trustees of the Festa Towers Irrevocable Trust for parking purposes only.

The parcel of land is located on Revere Beach boulevard and is shown as 19,125 square feet more or less and shown as "Map-Block-Parcel- Unit 2-140-004 on a plan of land Revere, Mass", dated April 3, 2000, and drawn by Albert A. Romano. The exact boundaries of the parcel shall be determined by the commissioner in consultation with the department of conservation and recreation after completion of a survey.

SECTION 2. The consideration to be paid to the commonwealth for the conveyance authorized in section 1 shall be the full and fair market value of the property based upon an independent professional appraisal as determined by the commissioner of the division of capital asset management and maintenance.

The inspector general shall review and approve the appraisal. Said inspector general shall prepare a report of his review of the methodology utilized for said appraisal and shall file the report with the commissioner for submission to the house and senate committees on ways and means and the chairmen of the joint committee on state administration. Said commissioner shall, 30 days before the execution of any agreement authorized by this act, or any subsequent amendment thereof, submit the agreement or amendment and a report thereon to said inspector general for his review and comment. Said inspector general shall issue his review and comment within 15 days of receipt of any agreement or amendment. Said commissioner shall submit the agreement and any subsequent amendments thereof, the reports and the comments of said inspector general, if any, to the house and senate committees on ways and means and the chairmen of the joint committee on state administration at least 15 days before execution.

SECTION 3. Joseph A. Festa, Jr. and John V. Festa, Trustees of Festa Towers Irrevocable Trust, shall pay for the costs of all appraisals, surveys and deed preparation for the conveyance of the property authorized by this act as may be deemed necessary by the commissioner of the division of capital asset management and maintenance.

SECTION 4. No deed conveying the parcel of land from the commonwealth to the proponents named in this act shall be valid unless the deed contains a provision restricting the use of the parcel to parking purposes only.