(a) Sale of property.--Nothing under this chapter requiring advertising for bids or sale at public auction and sale to the highest bidder shall apply if borough real or personal property is to be sold to any of the following:

(1) A county, city, borough, town, township, institution district, school district, volunteer fire company, volunteer ambulance service or volunteer rescue squad located within the borough.

(2) A council of government, consortium, cooperative or other similar entity created pursuant to 53 Pa.C.S. Ch. 23 Subch. A (relating to intergovernmental cooperation).

(3) An authority as defined in 53 Pa.C.S. § 5602 (relating to definitions).

(4) A nonprofit corporation engaged in community development or reuse only upon entering into a written agreement with the nonprofit corporation that requires the property to be used for industrial, commercial or affordable housing purposes. This exemption shall not apply to property on which existing governmental functions are conducted. This exemption shall also not apply to property owned and operated by the borough or subcontracted or operated on behalf of the borough in order to conduct existing government functions.

(5) A person for the person's exclusive use in an industrial development program.

(6) A nonprofit corporation organized as a public library for its exclusive use as a library.

(7) A nonprofit medical service corporation as authorized under section 1202(50) (relating to specific powers).

(8) A nonprofit housing corporation as authorized by section 1202(51).

(9) The Federal Government or the Commonwealth.

(10) A nonprofit museum or historical society for its exclusive use as a nonprofit museum or historical society.

(b) Sales to certain nonprofit corporations.--When real property is to be sold to a nonprofit corporation organized as a public library for its exclusive use as a library or to a nonprofit medical service corporation or to a nonprofit housing corporation, council may elect to accept nominal consideration for the sale as it shall deem appropriate.

(c) Reversion.--Real property sold under this section to a volunteer fire company, volunteer ambulance service or volunteer rescue squad, nonprofit medical service corporation or nonprofit housing corporation shall be subject to the condition that, when the property is not used for the purposes of the company, service, squad or corporation, the property shall revert to the borough.

Cross References. Section 1201.3 is referred to in section 1201.1 of this title.