Referring vacant division-owned property to the Department of Transportation for auction

(1) The division may refer vacant division-owned property to the Department of Transportation for a public auction if: (a) for a conveyance, lease, or disposal of vacant division-owned property for less than fair market value: (i) the division has provided notice under Section 63A-5b-905 with respect to the vacant division-owned property; and (ii) the division receives no qualified proposals in response to the notice under Section 63A-5b-905; (b) the director determines that: (i) there is no reasonable likelihood that within the foreseeable future: (A) a primary state agency will use or occupy the vacant division-owned property; or (B) a secondary state agency, local government entity, or public purpose nonprofit entity will seek a transfer of ownership or lease of the vacant division-owned property; and (ii) disposing of the vacant division-owned property through a public auction is in the best interests of the state; (c) the director requests and receives a recommendation on the proposed public auction from the Legislative Executive Appropriations Committee; (d) the director communicates the Executive Appropriations Committee's recommendation to the executive director; and (e) the executive director approves the public auction. (2) If the division refers a vacant division-owned property to the Department of Transportation for public auction, the Department of Transportation shall publicly auction the vacant division-owned property under the same law and in the same manner that apply to a public auction of Department of Transportation property. (3) At a public auction conducted under Subsection (2), the Department of Transportation may, on behalf of the division, accept an offer to purchase the vacant division-owned property. (4) The division and the Department of Transportation shall coordinate together to: (a) manage the details of finalizing any sale of the vacant division-owned property at public auction; and (b) ensure that the buyer acquires proper title and that the division receives the net proceeds of the sale. (5) If a public auction under this section does not result in a sale of the vacant division-owned property, the Department of Transportation shall notify the division and refer the vacant division-owned property back to the division.