To reconvey certain property.

Summary: Extends the provisions of the Urban Renewal Plan and restrictions applicable to property in the Kendall Square Urban Renewal Area conveyed by the Cambridge Redevelopment Authority, Cambridge, Massachusetts, to the United States.Requires: (1) the Government to reconvey to the Authority certain disposable real property within the Area; and (2) the Authority to make a payment to the Government, carry out a housing and open space master plan within such Area, and cooperate with the Department of Transportation to secure additional space to expand Department facilities within the Area.

SECTION 1. AUTHORITY FOR ACQUISITION OF AND DEVELOPMENT WITHIN CERTAIN 
              URBAN RENEWAL PROJECT AREAS.

    (a) Definitions.--As used in this section, the term--
            (1) ``date of reconveyance'' means the date on which the 
        disposable real property is reconveyed to the Cambridge 
        Redevelopment Authority;
            (2) ``NTSC'' means the John A. Volpe National 
        Transportation Systems Center;
            (3) ``Authority'' means the Cambridge Redevelopment 
        Authority of the city of Cambridge, Massachusetts;
            (4) ``CRA controls'' means the restrictions, requirements, 
        and other provisions affecting the use and ownership of 
        property within the Kendall Square Urban Renewal Project Area 
        contained--
                    ``(A) in the Urban Renewal Plan;
                    ``(B) the Land Disposition Contract;
                    ``(C) the deed or deeds or transfer of any such 
                property from the Authority to the United States;
                    ``(D) zoning and building laws of the city of 
                Cambridge, Massachusetts; and
                    ``(E) any other applicable provisions or agreements 
                previously approved by the Federal Government;
            (5) ``disposable real property'' means certain land and the 
        building thereon within parcel 1 of the Kendall Square Urban 
        Renewal Project Area, generally shown as tract 1 on a plan 
        entitled ``Master Action Plan, Kendall Square Urban Renewal 
        Project Area, parcel 1, tracts 1, 2 and 2A, September 2000, 
        scale: 1''=80''', prepared by Fay, Spofford and Thorndike, 
        Inc., Engineers, Burlington, Massachusetts, presently owned by 
        the United States subject to CRA controls;
            (6) ``tract 1'' means that tract of land containing 5.8 
        acres and the building thereon shown as tract 1 on the plan 
        entitled ``Master Action Plan, Kendall Square Urban Renewal 
        Project Area, parcel 1, tracts 1, 2, and 2A, September 2000, 
        scale: 1''=80''', prepared by Fay, Spofford and Thorndike, 
        Inc., Engineers, Burlington, Massachusetts;
            (7) ``tract 2 and tract 2A'' means those tracts of land and 
        the buildings thereon shown as tract 2 and as tract 2A, 
        containing 8.5 acres of land and the buildings thereon, on a 
        plan entitled ``Master Action Plan, Kendall Square Urban 
        Renewal Project Area, parcel 1, tracts 1, 2, and 2A, September 
        2000, scale: 1''=80''', prepared by Fay, Spofford and 
        Thorndike, Inc., Engineers, Burlington, Massachusetts;
            (8) ``Urban Renewal Plan'' means the Urban Renewal Plan for 
        the Kendall Square Urban Renewal Project Area dated October 
        1965, as amended;
            (9) ``Land Disposition Contract'' means the Land 
        Disposition Contract between the Authority and the United 
        States, dated June 13, 1966, as amended and supplemented; and
            (10) ``Moderate-income family'' means a family whose income 
        does not exceed 80 percent of the median income for the area.
    (b) Extensions of Plan and Restrictions.--The provisions of the 
Urban Renewal Plan applicable to property in the Kendall Square Urban 
Renewal Area conveyed by the Authority to the United States and such 
restrictions, agreements, and covenants in the deeds of conveyance of 
such property which would otherwise terminate on August 30, 2010, shall 
be extended by the Authority until August 30, 2020, as may be required 
by Federal or State housing subsidies and changes in permitted uses to 
allow public open space, housing, and accessory uses. The appropriate 
instruments to effectuate such extensions on behalf of and in the name 
of the United States upon receipt from the Authority shall be executed 
and delivered.
    (c) Reconveyance Required; Conditions and Consequences.--
            (1) Reconveyance.--Notwithstanding provisions of any other 
        law and any provisions of the Land Disposition Contract to the 
        contrary, the disposable real property shall be reconveyed, not 
        later than 6 months after the date of enactment of this Act, 
        from the Government to the Authority, and in consideration 
        therefore--
                    (A) the Authority shall prepare and carry out a 
                master plan for the development and reuse of the 
                disposable real property that includes the making of 
                appropriate demolition, alterations, installation of 
                public improvements, and sale or lease of tract 1 for 
                the purpose of open space and housing (of which, a 
                total of 30 percent of the dwelling units shall be for 
                low- and moderate-income families, who, with respect to 
                the lease of such units, shall not be required to pay 
                more than 30 percent of their annual income for the 
                yearly rental thereof);
                    (B) the Authority shall, upon the reconveyance of 
                the disposable real property to it under this 
                subsection, shall be responsible to make a payment to 
                the Government, calculated on the basis of the number 
                of market rate housing units constructed times a factor 
                of $15,000 per unit, by a nonrecourse note of the 
                Authority in such principal amount, payable in or 
                within 5 years from the date of reconveyance, which 
                note shall be secured by a first mortgage on such 
                disposable real property and shall provide for partial 
                release or releases upon payment of reasonably 
                equitable portions of the outstanding unpaid principal; 
                and
                    (C) the Authority shall cooperate with the 
                Department of Transportation to secure additional 
                space, if needed, within the Kendall Square Urban 
                Renewal Project Area for the expansion of the 
                facilities and functions of the Department.
            (2) Provisions of office space, parking and related 
        facilities.--
                    (A) Feasibility study.--In order to carry out the 
                purpose of this Act, the Secretary of Transportation 
                shall make available $500,000 for the purposes of 
                undertaking a feasibility study to determine the amount 
                of new general office space in new buildings on parcel 
                1 to be used--
                            (i) by contractors engaged in NTSC work 
                        activities;
                            (ii) by NTSC for expansion space; and
                            (iii) for lease to other private firms 
                        seeking space in the Kendall Square area.
                    (B) Ground lease.--The Secretary is authorized to 
                enter into a long-term ground lease with the Authority 
                for the purpose of providing buildable lots to 
                accommodate office uses the amount of which to be 
                determined by the feasibility study described in 
                subparagraph (A) and based on office market conditions 
                in the locality. Office space, biotechnology office and 
                manufacturing facilities shall be located on Parcel 1 
                south of Potter Street and shall involve, exclusively, 
                entities having development rights in the Kendall 
                Square Urban Renewal Area. Further, the Secretary shall 
                grant to the Authority a permanent easement on tract 2 
                for the construction and operation of an electric 
                utility station.
                    (C) Structured parking.--The Secretary shall make 
                available $12,500,000 for the purpose of providing 
                structured parking to be used by the NTSC and its 
                contractors' employees to be constructed in accordance 
                with the ground lease described in subparagraph 
(B). Such structured parking may be incorporated into an office 
building structure. In the event that the construction of office 
buildings is not feasible, funds shall be used to construct a 
multilevel parking deck for employee parking.
                    (D) Demolition.--The Secretary of Transportation 
                shall make available to the Authority $3,000,000 for 
                the purpose of demolishing the existing shipping and 
                receiving facility (building 6), relocating and 
                incorporating the existing functions and occupants in 
                the high-rise building (building 1), and for site 
                preparation.
                    (E) Open space and amenities.--The Secretary of 
                Transportation and the Secretary of Housing and Urban 
                Development are directed to make available funds to the 
                Authority in the amount of $2,000,000 for the purpose 
                of developing approximately 165,000 square feet of open 
                space for a full-size soccer field and related 
                amenities and a replacement playground to serve the 
                NTSC day care program which will be relocated from its 
                present location. Further, the Secretaries are directed 
                to identify and make available to the Authority 
                sufficient housing subsidies to finance not less than 
                75 dwelling units of housing that qualifies as 
                affordable housing under the provisions of section 215 
                of the Home Investment Partnerships Act (42 U.S.C. 
                12745). If an abutting tract of land is developed for 
                housing, the Secretary of Housing and Urban Development 
                shall identify and make available subsidies to finance 
                not less than an additional 75 units of affordable 
                housing units.
                    (F) Pedestrian passageway.--The Secretary of 
                Transportation shall make available through the Federal 
                Transit Administration funds to design and construct a 
                safe pedestrian passageway from the rapid transit 
                facility (Kendall Square Station) to the NTSC 
                facilities.
                    (G) Housing program.--The Secretary of Housing and 
                Urban Development shall assist the Authority and the 
                city of Cambridge to implement a program to create 
                housing on parcel 1 and the existing residential 
                neighborhoods in East Cambridge and Area 4, north and 
                west of NTSC, respectively.
                    (H) Preparation.--The Authority may take such 
                actions as are appropriate to ensure that it is 
                prepared to enter into ground leases with the 
                Government for the purpose of developing office 
                buildings and a parking structure as described in 
                subparagraphs (B) and (C) and shall take such actions 
                as are appropriate to ensure that not later than 1 year 
                of the date of enactment of this Act, not less than 500 
                parking spaces on parcel 1 of the Kendall Square Urban 
                Renewal Project Area are available for use by employees 
                of the NTSC, its contractors and tenants, and that such 
                parking is located on parcel 1. The Authority shall 
                cooperate with any implementing actions taken by the 
                Department of Transportation to ensure that--
                            (i) the existing shipping and receiving 
                        facility is demolished; and
                            (ii) the functions from such facility are 
                        relocated.
            (3) Authority to execute instruments.--In making the 
        reconveyance provided for in paragraph (1), the Government may 
        execute any instruments, including contracts and deeds 
        necessary or appropriate to carry out the provisions of this 
        section.
            (4) United states relieved of obligations.--Upon the 
        reconveyance of the disposable real property to the Authority, 
        the United States shall be relieved by the Authority of any 
        obligation to develop the disposable real property under the 
        Land Disposition Contract.
    (d) Effects on Other Rights and Obligations Prohibited.--Nothing in 
this section shall affect any of the rights and obligations of any 
party, or the responsibilities and authority of the Authority and the 
United States applicable to any other portions of the Kendall Square 
Urban Renewal Project Area. Nothing in subsection (c) shall limit the 
Authority from seeking or obtaining available Federal, State, or local 
financial assistance in order to comply with the requirements of 
subsection (c).