Disposition Policy

Personal property belonging to the Framingham Housing Authority shall not be sold or exchanged for less than fair value. Any personal property belonging to the Housing Authority that is no longer needed for LHA operation shall be declared excess. Any such excess property valued at Five Hundred Dollars ($500.00) or more, which is not being sold to a public body for a public use or to a non-profit organization for low income housing related purposes (e.g. a resident organization), shall be sold at a public sale,

Sales of excess personal property shall be conducted in the following manner:

1. The Executive Director shall declare personal property that is worn out, obsolete or surplus to the needs of the Housing Authority excess. All such declarations shall be documented in writing. A survey to identify such property shall be conducted at least once a year following the inventory.

1. If the estimated market value of the personal property offered for sale is less than Five Hundred Dollars ($500,00), the Executive Director may negotiate a sale in the open market after such informal inquiry as he or she considers necessary to ensure a fair return to the LHA. The sale shall be documented by an appropriate bill of sale.

1. For sales of excess property valued between Five Hundred Dollars ($500.00) and Two Thousand Dollars ($2000.00), the Executive Director shalt solicit informal bids orally, by telephone, or in writing from all known prospective purchasers and a tabulation of all such bids received shall be prepared and retained as part of the permanent record. The sale shall be documented by an appropriate bill of sale.

1. For sales of excess property valued at more than Two Thousand Dollars ($2000.00), a contract of sale shall be awarded only after advertising for formal bids. The advertisement shall be posted at least fifteen (15) days prior to award of the sale contract and shall be published in newspapers or circular letters to all prospective purchasers. In addition, notices shall be posted in public places. Bids shall be opened publicly at the time and place specified in the advertisement. A tabulation of all bids received shall be prepared and filed with the contract as part of the permanent record. The award shall be made to the highest bidder as to price.

1. Notwithstanding the above, the sale or donation of personal property to a public body for public use or a non-profit organization for low-income housing related purposes may be negotiated at its fair value. The transfer shall be documented by an appropriate bill of sale.

1. Property that has no usefulness and no disposition value shall be appropriately discarded in such a manner that it will not have a negative effect on the environment.
2. Any property that has a trade in value shall be traded in if the amount received reflects the most economical combination of purchase and sale.

The Executive Director shall make every effort to dispose of excess personal property as outlined above. However, if the property has no scrap or salvage value and a purchaser cannot be found, the Executive Director shall prepare a statement detailing the prospective bidders solicited and all other efforts made to sell the property, together with recommendations as to the manner of disposition. The complete documentation in support of destruction, abandonment, or donation, shall be retained as a part of the permanent records.