Utah Admin. Code R850-80-620 - Negotiated Sale Procedures
(1) If
the agency receives an expression of competitive interest within the notice
period, the agency shall evaluate the offer and determine what action is in the
best interest of the beneficiaries.
(2) The agency shall give the board and
affected beneficiary prior notice of the proposed negotiated sale, which notice
must describe the terms, reasons, and other pertinent facts of the proposed
negotiated sale.
(3) Board approval
of a negotiated sale is required if:
(a) the
fair market value of the subject parcel exceeds $250,000.00;
(b) the subject property exceeds 320 acres;
or
(c) the agency receives a
competitive offer on the subject parcel.
(4) The agency may require the purchaser to
pay a down payment and the costs and fees described in
R850-80-610(4)
Notes
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