Reference
This document was drafted by the Ministry of Economic Development under Paragraph 3, Article 19 of the Land Code of the Russian Federation. The directive provides for the option to transfer state-owned land to municipalities at no cost to promote property development.
The directive provides for the no cost transfer of 86 land plots owned by the Russian Federation, which are parts of residential areas intended for use as beach areas, to the Sochi City and Resort municipality, the Krasnodar Territory.
These land plots will eventually be available for rent to owners of hotels built for the 2014 Sochi Olympic Games. After the Games, these transfers will facilitate the compensation due these hotels.