116 STAT. 1088 PUBLIC LAW 107-217—AUG. 21, 2002 (6) after advertising under subsection (a), the bid prices for the property, or part of the property, are not reasonable or have not been independently arrived at in open competition; (7) with respect to real property, the character or condition of the property or unusual circumstances make it impractical to advertise publicly for competitive bids and the fair market value of the property and other satisfactory terms of disposal can be obtained by negotiation; (8) the disposal will be to a State, territory, or possession of the United States, or to a political subdivision of, or a tax-supported agency in, a State, territory, or possession, and the estimated fair market value of the property and other satisfactory terms of disposal are obtained by negotiation; or (9) otherwise authorized by law. (c) DISPOSAL THROUGH CONTRACT BROKERS. —Disposals and contracts for disposal of surplus real and related personal property through contract realty brokers employed by the Administrator shall be made in the manner followed in similar commercial transactions under regulations the Administrator prescribes. The regulations must require that brokers give wide public notice of the availability of the property for disposal. (d) NEGOTIATED SALE AT FIXED PRICE.— (1) AUTHORIZATION.—The Administrator may make a negotiated sale of personal property at a fixed price, either directly or through the use of a disposal contractor, without regard to subsection (a). However, the sale must be publicized to an extent consistent with the value and nature of the property involved and the price established must reflect the estimated fair market value of the property. Sales under this subsection are limited to categories of personal property for which the Administrator determines that disposal under this subsection best serves the interests of the Government. (2) FIRST OFFER.— Under regulations and restrictions the Administrator prescribes, an opportunity to purchase property at a fixed price under this subsection may be oflered first to an entity specified in subsection (b)(8) that has expressed an interest in the property. (e) EXPLANATORY STATEMENTS FOR NEGOTL\TED DISPOSALS. — (1) REQUIREMENT.— (A) IN GENERAL.— Except as provided in subparagraph (B), an explanatory statement of the circumsteuices shall be prepared for each disposal by negotiation of— (i) personal property that has an estimated fair market value in excess of $15,000; (ii) real property that has an estimated fair market value in excess of $100,000, except that real property disposed of by lease or exchange is subject only to clauses (iii)-(v) of this subparagraph; (iii) real property disposed of by lease for a term of not more than 5 years, if the estimated fair annual rent is more than $100,000 for any year; (iv) real property disposed of by lease for a term of more than 5 years, if the total estimated rent over the term of the lease is more than $100,000; or (v) real property or real and related personal property disposed of by exchange, regardless of value, or
�
