SECTION 1. SALE OR EXCHANGE OF NOAA PROPERTY IN 
NORFOLK, VIRGINIA. 
(a) IN GENERAL.—The Secretary of Commerce may 
sell or exchange to the City of Norfolk, Virginia, in accord-
ance with chapter 13 of title 40, United States Code, real 
property under the administrative jurisdiction of the Na-
tional Oceanic and Atmospheric Administration (in this 
section referred to as ‘‘NOAA’’), including land and im-
provements thereon, located at 538 Front Street, Norfolk, 
Virginia, consisting of approximately 3.78 acres, if the 
Secretary— 
(1) determines that the conveyance is in the 
best interests of NOAA and the Federal Govern-
ment; and 
(2) has provided prior notification to the Com-
mittee on Natural Resources and the Committee on 
Appropriations of the House of Representatives and 
the Committee on Commerce, Science, and Trans-
portation and the Committee on Appropriations of 
the Senate. 
(b) CONSIDERATION.— 
(1) IN GENERAL.—For any conveyance under 
this section the Secretary shall require the City of 
Norfolk to provide consideration to the United 
States that is not less than the fair market value of 
the property conveyed by the United States.
(2) FORM.—Consideration under this sub-
section may include any combination of— 
(A) cash or cash equivalents; 
(B) other property (either real or per-
sonal); and 
(C) consideration in-kind, including— 
(i) provision of space, goods, or serv-
ices of benefit to NOAA including con-
struction, repair, remodeling, or other 
physical improvements of NOAA property; 
(ii) maintenance of NOAA property; 
(iii) provision of office, storage, or 
other useable space; or 
(iv) relocation services associated with 
conveyance of property under this section. 
(3) 
DETERMINATION
OF
FAIR
MARKET 
VALUE.—The Secretary shall determine fair market 
value for purposes of paragraph (1) based upon a 
highest- and best-use appraisal of the property con-
veyed under subsection (a) conducted in conform-
ance with the Uniform Appraisal Standards for Pro-
fessional Appraisal Practice. 
(c) USE OF PROCEEDS.—Amounts received under 
subsection (b)(2)(A) by the United States as proceeds of
any conveyance under this section shall be available to the 
Secretary, subject to appropriation, for— 
(1) activities related to the operations of, or 
capital improvements, to NOAA property; or 
(2) relocation and other costs associated with 
the sale or exchange. 
(d) ADDITIONAL TERMS
AND CONDITIONS.—The 
Secretary may require such additional terms and condi-
tions in connection with the conveyance of property by the 
United States under subsection (a) as the Secretary con-
siders appropriate to protect the interest of the United 
States, including the recoupment of any profit the City 
of Norfolk may realize within three years after the date 
of conveyance to the City due to resale of the property 
(e) TERMINATION.—The authority granted to the 
Secretary under subsections (a) and (b) shall terminate 
at the end of the 24-month period beginning on the date 
of enactment of this Act if no contract for sale or exchange 
under subsection (a) has been entered into by the City 
of Norfolk and the United States. 
Passed the House of Representatives September 17, 
2008. 
Attest: 
Clerk.
110TH CONGRESS 
2D SESSION 
H. R. 5350 
AN ACT 
To authorize the Secretary of Commerce to sell or 
exchange certain National Oceanic and Atmos-
pheric Administration property located in Nor-
folk, Virginia, and for other purposes.