OAR 125-045-0216: Department Approval

(1) Prior to any Acquisition or Terminal Disposition of any State Real Property Interest, all Transacting Agencies, unless exempted in 125-045-0211, must obtain the written consent of: (a) The Administrator if the Appraised Fair Market Value is less than $1,000,000; or (b) The Director if the Appraised Fair Market Value is $1,000,000 or more. (2) The Department must request the advice of the PLAC on any real property transaction valued at $100,000 or more. The Department may request the advice of the PLAC on any real property transaction valued less than $100,000. (3) Any Terminal Disposition of a State Real Property Interest for less than 90% of the Appraised Fair Market Value, or any Acquisition of a Real Property Interest for more than 110% of the Appraised Fair Market Value, must be approved by the Director. Transacting Agency must submit a memo explaining and justifying the variance from Appraised Fair Market Value when requesting approval. (4) Prior to entering into any lease exceeding five (5) years, Transacting Agency must be obtain approval in advance by the Administrator, except for leases: (a) Negotiated by the Oregon Department of Aviation; (b) Of state forestlands; (c) Of property controlled by the Department of State Lands (d) Of property controlled by the Department of Transportation (e) Of property controlled by a public university listed in ORS 352.002; or (f) Of property controlled by the legislative or judicial branches of state government. (5) The authority to lease property granted by this section includes authority to lease property not owned or controlled by the state at the time of entering into the lease.