Notwithstanding any other provision of law, in the event that the state acquires an interest in real property pursuant to subdivision (b) of Section 16200, the Controller may, in addition to the options provided in Section 16201, take any other action with respect to that real property interest as will best serve the interest of the state. These actions may include, but shall not be limited to, the sale, lease, or retention of any interest so acquired. The Controller may contract with licensed real estate brokers, maintenance and repair contractors, security contractors, appraisers, property managers, insurance brokers, and any other experts or specialists as may be necessary to protect or preserve the state’s interest in that property. The Controller may pay the costs incurred pursuant to those contracts out of the amount appropriated by Section 16180, or from any appropriation in lieu thereof.
The sale of those interests may be made on the basis of conventional financing arrangements including the securing of payment through the use of promissory notes, deeds of trust, and other accepted methods of deferred payment.
(Amended by Stats. 2017, Ch. 387, Sec. 8. (SB 205) Effective January 1, 2018.)
Last modified: October 25, 2018