Sec. 2845. LAND EXCHANGE, NAVAL SUPPORT ACTIVITY, WASHINGTON NAVY YARD, DISTRICT OF COLUMBIA

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## SEC. 2845 LAND EXCHANGE, NAVAL SUPPORT ACTIVITY, WASHINGTON NAVY YARD, DISTRICT OF COLUMBIA ###

(a)Exchange of Property Interests Authorized ####

(1)Interests to be conveyed The Secretary of the Navy (Secretary) may convey all right, title, and interest of the United States in and to one or more parcels of real property under the jurisdiction of the Secretary, including any improvements thereon and, without limitation, any leasehold interests of the United States therein, as the Secretary considers appropriate to protect the interests of the United States. ####

(2)Interests to be acquired In exchange for the property interests described in paragraph (1), the Secretary may accept parcels at the Southeast Federal Center in the vicinity of the Washington Navy Yard, replacement of facilities being conveyed of equal value and similar utility, as determined by the Secretary, and any additional consideration the Secretary feels is appropriate, including maintenance, repair, or restoration of any real property, facility, or infrastructure under the jurisdiction of the Secretary. ###

(b)Valuation The value of the property interests to be exchanged by the Secretary described in subsections (a)(1) and (a)(2) shall be determined— ####

(1)by an independent appraiser selected by the Secretary; and ####

(2)in accordance with the Uniform Appraisal Standards for Federal Land Acquisitions and the Uniform Standards of Professional Appraisal Practice. ###

(c)Equalization Payments ####

(1)To the secretary If the fair market value of the property interests described in subsection (a)(1) is greater than the fair market value of the property interests described in subsection (a)(2), the person to whom such interests are conveyed shall pay to the Department of the Navy an amount equal to the differences in such fair market values. ####

(2)No equalization If the fair market value of the property interests described in subsection (a)(2) is greater than the fair market value of the property interests described in subsection (a)(1), the Secretary shall not make a cash equalization payment to equalize the values. ###

(d)Payment of Costs of Conveyance ####

(1)Payment required The Secretary shall require the other party in this land exchange to cover costs to be incurred by the Secretary, or to reimburse the Secretary for such costs incurred, to carry out the land exchange under this section, including survey costs, costs for environmental documentation, other administrative costs related to the land exchange, and all costs associated with relocation of activities and facilities, including equipment, to the replacement location. If amounts collected are in advance of the Secretary incurring actual costs, and the amount collected exceeds the costs actually incurred by the Secretary to carry out the land exchange, the Secretary shall refund the excess amount. ####

(2)Treatment of amounts received Amounts received shall be credited to the fund or account that was used to cover those costs incurred by the Secretary in carrying out the land exchange. Amounts so credited shall be merged with amounts in such fund or account, and shall be available for the same purposes, and subject to the same conditions and limitations, as amounts in such fund or account. ###

(e)Description of Property The exact acreage and legal description of the property to be exchanged under this section shall be determined by surveys satisfactory to the Secretary of the Navy. ###

(f)Conveyance Agreement The exchange of real property interests under this section shall be accomplished using an appropriate legal instrument and upon terms and conditions mutually satisfactory to both parties of the exchange, including such additional terms and conditions as the Secretary considers appropriate to protect the interests of the United States.