(b) Any real or personal property owned by any local governmental entity or the state and located within an empire zone may be sold or leased to any person pursuant to this section without public bidding or public sale; provided, however, that there is published in at least one newspaper of general circulation in the municipality in which the empire zone is located a notice which shall include a statement of the identity of the proposed purchaser or lessee and a description of its proposed use or re-use of the property, the price or rental to be paid by such purchaser or lessee, all other essential conditions of such sale or lease, and a statement that a public hearing upon such sale or lease will be held by the seller or lessor of the property at a specified time and place on a date not less than ten days nor more than thirty days after such publication, and provided further that such public hearing is held in accordance with such notice.
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