Procedure for PLAC Review
(1)The Division will forward written material for PLAC review to the PLAC members at least two weeks in advance of a scheduled PLAC meeting.
(2) The Transacting Agency or the Division, as appropriate, will present the transaction or report to the PLAC. Following each presentation, the PLAC may ask questions and discuss issues with other PLAC members, Agency and Division representatives, and other experts or advisers as needed.
(3) The PLAC:
(a) Must approve of the form and substance of any written Appraisal and final determination of Appraised Fair Market Value by the appraiser; and
(b) May require that more than one Appraisal be obtained to establish the Appraised Fair Market Value of a Real Property Interest.
(4) At the end of discussion, the PLAC Chair will ask members for advice or recommendations. The PLAC may:
(a) Request additional information from the Division or Transacting Agency and postpone recommendation or comment; or
(b) Make recommendation or comment on the proposed transaction or agenda item.
(5) Follow-up responses from the Transacting Agency or Division may be submitted and discussed via email or other available technology, so long as the Division is included on all such discussions, and these discussions are retained electronically as public records of the PLAC.
(6) The PLAC will not make a recommendation on a transaction or other documents reviewed without a majority of its members present or otherwise participating in the recommendation. If a regularly scheduled and noticed meeting does not have a majority of the members present, those present will be considered to be a subcommittee of the PLAC. The subcommittee will report its findings and recommendations to the next scheduled PLAC meeting or to the entirety of the PLAC for review via email or other available technology so recommendations may be made in a timely manner. The Division will be included on all discussions via email or other technology, and these discussions will be retained electronically as public records of the PLAC.
(7) The PLAC may hold meetings or portions of meetings in non-public Executive Session to discuss specific, confidential deal points and negotiation strategies for particular property transactions.
(8) The Division will prepare draft meeting minutes after every PLAC meeting and distribute them to PLAC members for review and comment. The Division will revise the minutes following receipt of comments from the PLAC and distribute revised minutes to the PLAC for approval at the beginning of the next scheduled PLAC meeting.