(1)  Upon the completion of the acquisition of properties to establish the buffer zone, the corporation shall, at the option of a residential landowner, his or her successors or assigns, whose residential real property is located within one thousand feet and two thousand feet (1000′ and 2000′) of the entire operational portion of the central landfill, which real property is not subject to acquisition per § 23-19-34, and which real property has been zoned for residential purposes since July 31, 1988, and remains zoned residential as of October 1, 1989, purchase the residential real property with all the buildings and improvements located thereon from the landowner, his or her successors or assigns, at the fair market value of the property. The property of residential landowners who build on land within this one thousand to two thousand foot (1000′ to 2000′) zone shall not be eligible for acquisition unless their homes were built, or building permits obtained, prior to July 31, 1988.

Terms Used In Rhode Island General Laws 23-19-35

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(2)  For the purposes of this section, the corporation shall:

(i)  Purchase the total acreage and all buildings (if applicable) of any parcel which is encroached upon to any degree by the two thousand foot (2000?) mark as measured from the perimeter of the entire operational portion of the central landfill; and

(ii)  Acquire first all the properties of those owners who own parcels with residential units thereon.

(b)  A residential landowner’s option to sell under this section must be exercised by June 30, 1990.

History of Section.
P.L. 1989, ch. 277, § 2.