Real property conveyance

(a)

Definitions

In this section: (1)

Archivist

The term Archivist means the Archivist of the United States. (2)

City

The term City means the Municipality of Anchorage, Alaska. (b)

Conveyance

(1)

In general

As soon as practicable after the date of enactment of this Act and after completion of the survey and appraisal described in this section, the Administrator of General Services, on behalf of the Archivist, shall offer to convey to the City by quitclaim deed for the consideration and under the conditions described in subsection (d), all right, title, and interest of the United States in and to a parcel of real property described in subsection (c). (2)

Costs of conveyance

The City shall be responsible for paying— (A)the costs of an appraisal conducted pursuant to subsection (d)(1)(B); and (B)any other costs relating to the conveyance of the Federal property under this Act. (c)

Legal description of property

(1)

In general

The parcel to be conveyed under subsection (b) consists of approximately 9 acres and improvements located at 400 East Fortieth Avenue in the City that is administered by the National Archives and Records Administration. (2)

Survey required

As soon as practicable after the date of enactment of this Act, the exact acreage and legal description of the real property to be conveyed under subsection (b) shall be determined by a survey, paid for by the City, that is satisfactory to the Archivist. (d)

Terms and conditions

(1)

Consideration

(A)

In general

As consideration for the conveyance of the property under subsection (b), the City shall pay to the Archivist an amount not less than the fair market value of the conveyed property, to be determined as provided in subparagraph (B). (B)

Appraisal

The fair market value of the property to be conveyed under subsection (b) shall be determined based on an appraisal that— (i)is conducted by a licensed, independent appraiser that is approved by the Archivist and the City; (ii)is based on the highest and best use of the property; (iii)is approved by the Archivist; and (iv)is paid for by the City. (2)

Preconveyance entry

The Archivist, on terms and conditions the Archivist determines to be appropriate, may authorize the City to enter the property at no charge for preconstruction and construction activities. (3)

Additional terms and conditions

The Archivist may require additional terms and conditions in connection with the conveyance under subsection (b) as the Archivist considers appropriate to protect the interests of the United States. (e)

Proceeds

Any net proceeds received by the Archivist as a result of the conveyance under this Act shall be deposited in the Treasury and used for deficit reduction, in such manner as the Secretary of the Treasury considers appropriate.