S. 1492 

One Hundred Fourteenth Congress 

of the 

United States of America 

AT THE SECOND SESSION 

Begun and held at the City of Washington on Monday, 

the fourth day of January, two thousand and sixteen 

An Act 

To direct the Administrator of General Services, on behalf of the Archivist of 

the United States, to convey certain Federal property located in the State of 

Alaska to the Municipality of Anchorage, Alaska. 

Be it enacted by the Senate and House of Representatives of 

the United States of America in Congress assembled, 

SECTION 1. 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). 
S. 1492—2 

(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. 

Speaker of the House of Representatives. 

Vice President of the United States and

President of the Senate.