TRA handles most of the MBTA’s dispositions of public property and assets such as sale of surplus land, lease of commercial and concession space, licenses for ATM and vending facilities in stations and employee areas. To serve the MBTA effectively in this capacity, TRA has developed a consistent and streamlined process for agency approvals and public bidding.
Prior to a public offering, the appropriate MBTA departments review the disposition request and approve or specify any conditions associated with the disposition. This process typically takes 30 – 45 days.
Most of these dispositions require a public process that is transparent and demonstrates protection of public money and assets. These public processes typically involve a number of steps that include:
The timeframe for a simple disposition typically takes 4-6 months from the public announcement through closing. More complicated offerings may allow more time for involved for extensive site investigations and other buyer due diligence and may take 6-9 months. Dispositions that involve new development may also include time for preliminary project design and permitting. These types of dispositions may involve 9 to 18 months.