New Law Raises Threshold for Selling Borough PropertyFebruary 6th, 2020
Gov. Tom Wolf signed Act 4 of 2020 which increases the threshold from $1,500 to $6,000 the value of municipal real property below which a boroughneed not publicly advertise for bids when selling its real property.
Senate Bill 692, authored by Sen. Scott Hutchinson (R-Butler/Clarion) requires a borough council, prior to selling real estate valued at $6,000 or less without advertisement or competitive bidding, to make a public announcement of the council's intention to sell the real estate at a regular or special meeting of the council at least 30 days prior to the sale.
The law takes effect April 6, 2020.
For more information on the bill, click here.