Conveyance of GSA Fleet Management Center to Alaska Railroad Corporation

(a)

In general

Subject to the requirements of this section, the Administrator of General Services shall convey, not later than 2 years after the date of enactment of this Act, by quitclaim deed, to the Alaska Railroad Corporation, an entity of the State of Alaska (in this section referred to as the Corporation), all right, title, and interest of the United States in and to the parcel of real property described in subsection (b), known as the GSA Fleet Management Center. (b)

GSA fleet management center

The parcel to be conveyed under subsection (a) is the parcel located at the intersection of 2nd Avenue and Christensen Avenue in Anchorage, Alaska, consisting of approximately 78,000 square feet of land and the improvements thereon. (c)

Consideration

(1)

In general

As consideration for the parcel to be conveyed under subsection (a), the Administrator shall require the Corporation to— (A)convey replacement property in accordance with paragraph (2); or (B)pay the purchase price for the parcel in accordance with paragraph (3). (2)

Replacement property

If the Administrator requires the Corporation to provide consideration under paragraph (1)(A), the Corporation shall— (A)convey, and pay the cost of conveying, to the United States, acting by and through the Administrator, fee simple title to real property, including a building, that the Administrator determines to be suitable as a replacement facility for the parcel to be conveyed under subsection (a); and (B)provide such other consideration as the Administrator and the Corporation may agree, including payment of the costs of relocating the occupants vacating the parcel to be conveyed under subsection (a). (3)

Purchase price

If the Administrator requires the Corporation to provide consideration under paragraph (1)(B), the Corporation shall pay to the Administrator the fair market value of the parcel to be conveyed under subsection (a) based on its highest and best use as determined by an independent appraisal commissioned by the Administrator and paid for by the Corporation. (d)

Appraisal

In the case of an appraisal under subsection (c)(3)— (1)the appraisal shall be performed by an appraiser mutually acceptable to the Administrator and the Corporation; and (2)the assumptions, scope of work, and other terms and conditions related to the appraisal assignment shall be mutually acceptable to the Administrator and the Corporation. (e)

Proceeds

(1)

Deposit

Any proceeds received under subsection (c) shall be paid into the Federal Buildings Fund established under section 592 of title 40, United States Code. (2)

Expenditure

Funds paid into the Federal Buildings Fund under paragraph (1) shall be available to the Administrator, in amounts specified in appropriations Acts, for expenditure for any lawful purpose consistent with existing authorities granted to the Administrator; except that the Administrator shall provide to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Environment and Public Works of the Senate 30 days advance written notice of any expenditure of the proceeds. (f)

Additional terms and conditions

The Administrator may require such additional terms and conditions to the conveyance under subsection (a) as the Administrator considers appropriate to protect the interests of the United States. (g)

Description of property and survey

The exact acreage and legal description of the parcels to be conveyed under subsections (a) and (c)(2) shall be determined by surveys satisfactory to the Administrator and the Corporation.