To provide for the continued lease or eventual conveyance of certain Federal land within the boundaries of Fort Wainwright Military Reservation in Fairbanks, Alaska.

To provide for the continued lease or eventual conveyance of certain Federal land within the boundaries of Fort Wainwright Military Reservation in Fairbanks, Alaska. 1. Land lease and conveyance, Fort Wainwright Military Reservation, Fairbanks, Alaska (a) Covered land defined In this section, the term covered land (1) is under the jurisdiction of the Bureau of Land Management; (2) was withdrawn for military use pursuant to Executive Order 7596 of 1937 and is administered by the Secretary of the Army as part of Fort Wainwright Military Reservation; and (3) contains a 400-home rental housing community pursuant to a Department of the Army lease (Lease No. DACA 85–1–86–71) dated June 26, 1986. (b) Authority To extend current lease (1) Authority to extend; term The Secretary of the Army may offer to extend the lease described in subsection (a)(3) for one or more periods of 15 years. (2) Notice of exercise of discretion to extend If the Secretary of the Army intends to offer any extension of the lease, as authorized by paragraph (1), the Secretary shall provide written notice of the offer to the current lessee and the Secretary of the Interior not later than 36 months before the date of the expiration of the lease. (c) Conveyance option If the lease described in subsection (a)(3) is not extended under subsection (b), then upon the expiration of the lease, the Secretary of the Army, with the concurrence of the Secretary of the Interior, shall use the authority provided by section 2878 of title 10, United States Code, to convey all right, title, and interest of the United States in and to the covered land. (d) National security waiver The Secretary of Defense may waive the conveyance requirement under subsection (c) if the Secretary of Defense determines that retention and military use of the covered land are in the national security interests of the United States. The waiver shall not take effect until the end of the 90-day period beginning on the date on which the Secretary of Defense notifies the Secretary of the Interior and Congress of the need for the waiver. (e) Appraisal required In the event of the conveyance of the covered land under subsection (c), the Secretary of the Army shall require an appraisal of the land, which shall be performed by an independent appraiser in accordance with the Uniform Appraisal Standards for Federal Land Acquisitions Uniform Standards of Professional Appraisal Practice (f) Consideration As consideration for the conveyance of the covered land under subsection (c), the purchaser shall pay to the Secretary of the Army an amount equal to the appraised value of the covered land, as determined under subsection (e). (g) Costs of Conveyance All costs of the conveyance under subsection (c), including appraisal costs, shall be paid by the purchaser. (h) Revocation of withdrawal order In the event the covered land is conveyed under subsection (c), Executive Order 7596 of 1937 is revoked to the extent necessary to permit conveyance of the land.

Summary: Authorizes the Secretary of the Army (the Secretary) to offer to extend, for one or more periods of 15 years, the current lease involving a parcel of Bureau of Land Management (BLM) land in Fairbanks, Alaska, that was withdrawn for military use and is administered as a part of Fort Wainwright Military Reservation and that contains a 400-home rental housing community (the covered land). Requires the Secretary, if the Secretary intends to offer any extension of the lease, to provide a written notice of such offer to the current lessee and the Secretary of the Interior before the lease expires. Authorizes the Secretary, upon the expiration of the lease, to convey the covered land, if the lease is not extended. Requires the concurrence of the Secretary of the Interior for such conveyance. Allows the Secretary of Defense (DOD) to waive such conveyance requirement if it is determined that the retention and military use of the covered land are in the national security interests of the United States.