Provides that a public agency, as that term is defined in RCW 42.30.020, may not sell real property or otherwise permanently transfer title of real property to a private person or private entity unless the public agency can show a compelling economic development necessity justifying the sale or transfer at that time. A public agency can satisfy the compelling economic development threshold if it can demonstrate that the present act of selling the property is of a greater public benefit than holding the land as a tangible asset or an intangible future asset that may be used for a public benefit.