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(b) CONVEYANCE AUTHORIZED.—The Commandant of
the Coast Guard, in coordination with the Administrator,
may convey to the EDC all right, title, and interest in and
to the Federal land.
(c) CONSIDERATION.—
(1) IN GENERAL.—As consideration for the con-
veyance under subsection (b)—
(A) the City shall convey to the United
States all right, title, and interest in and to the
City land; and
(B) the EDC shall construct a facility and
parking lot acceptable to the Commandant of the
Coast Guard.
(2) EQUALIZATION PAYMENT OPTION.—
(A) IN GENERAL.—The Commandant of the
Coast Guard may, upon the agreement of the
City and the EDC, waive the requirement to
construct a facility and parking lot under para-
graph (1)(B) and accept in lieu thereof an
equalization payment from the City equal to the
difference between the value, as determined by
the Administrator at the time of transfer, of the
Federal land and the City land.
(B) 
AVAILABILITY
OF
FUNDS.—Any
amounts received pursuant to subparagraph (A)
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shall be available without further appropriation
and shall remain available until expended to
construct, expand, or improve facilities related to
Sector Detroit’s aids to navigation or vessel
maintenance.
(d) CONDITIONS OF EXCHANGE.—
(1) COVENANTS.—All conditions placed within
the deeds of title shall be construed as covenants run-
ning with the land.
(2) AUTHORITY TO ACCEPT QUITCLAIM DEED.—
The Commandant may accept a quitclaim deed for
the City land and may convey the Federal land by
quitclaim deed.
(3) ENVIRONMENTAL
REMEDIATION.—Prior to
the time of the exchange, the Coast Guard and the
City shall remediate any and all contaminants exist-
ing on their respective properties to levels required by
applicable state and Federal law.
(e) AUTHORITY TO ENTER INTO LICENSE OR LEASE.—
The Commandant may enter into a license or lease agree-
ment with the Detroit Riverfront Conservancy for the use
of a portion of the Federal land for the Detroit Riverfront
Walk. Such license or lease shall be at no cost to the City
and upon such other terms that are acceptable to the Com-
mandant, and shall terminate upon the exchange author-
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ized by this section, or the date specified in subsection (h),
whichever occurs earlier.
(f) MAP AND LEGAL DESCRIPTIONS OF LAND.—
(1) IN GENERAL.—As soon as practicable after
the date of enactment of this Act, the Commandant
shall file with the Committee on Commerce, Science
and Transportation of the Senate and the Committee
on Transportation and Infrastructure of the House of
Representatives maps, entitled ‘‘Atwater Street Land
Exchange Maps,’’ which depict the Federal land and
the City lands and provide a legal description of each
property to be exchanged.
(2) FORCE OF LAW.—The maps and legal de-
scriptions filed under paragraph (1) shall have the
same force and effect as if included in this Act, except
that the Commandant may correct typographical er-
rors in the maps and each legal description.
(3) PUBLIC AVAILABILITY.—Each map and legal
description filed under paragraph (1) shall be on file
and available for public inspection in the appropriate
offices of the Coast Guard and the City of Detroit.
(g) ADDITIONAL TERMS AND CONDITIONS.—The Com-
mandant may require such additional terms and conditions
in connection with the exchange under this section as the