Sec. 2833. Land conveyance, Sharpe Army Depot, lathrop, California

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If the Secretary of the Army determines that no department or agency of the Federal Government will accept the transfer of a parcel of real property consisting of approximately 525 acres at Sharpe Army Depot in Lathrop, California, the Secretary may convey to the Port of Stockton, California, all right, title, and interest of the United States in and to the property, including any improvements thereon, for the purpose of permitting the Port of Stockton to use the property for the development or operation of a port facility.

If a department or agency of the Federal Government will accept the transfer of a portion of the parcel of real property described in subsection (a), the Secretary shall modify the conveyance authorized by such subsection to exclude the portion of the parcel to be accepted by that department or agency. The Secretary of the Army may assign the property for conveyance under subsection

(a)as a public benefit conveyance without monetary consideration to the Federal Government if the Port of Stockton satisfies the conveyance requirements specified in section 554 of title 40, United States Code. If the Port of Stockton fails to qualify for a public benefit conveyance under paragraph

(1)and still desires to acquire the real property described in subsection (a), the Port of Stockton shall pay to the United States an amount equal to the fair market value of the property to be conveyed. The Secretary shall determine the fair market value of the property using an independent appraisal based on the highest and best use of the property. The exact acreage and legal description of the real property to be conveyed under subsection

(a)shall be determined by a survey satisfactory to the Secretary of the Army. The cost of the survey shall be borne by the Port of Stockton. The Secretary of the Army may require such additional terms and conditions in connection with the conveyance under subsection

(a)as the Secretary considers appropriate to protect the interests of the United States. If the real property authorized for conveyance by subsection

(a)is not conveyed within one year after the date of the enactment of this Act, the Secretary of the Army may report the property excess for disposal in accordance with existing law.