(C) In exercising authority under section 303(g)
of the Federal Property and Administrative Services
Act of 1949 (41 U.S.C. 253(g)) relating to simplified
purchase procedures, the Trust is authorized, to use as
the dollar limit of each purchase or contract under
this subsection an amount which does not exceed
$500,000.
(D) In carrying out the requirement of section
18 of the Office of Federal Procurement Policy Act
(41 U.S.C 416), the Trust is authorized to furnish the
Secretary of Commerce for publication notices of pro-
posed procurement actions, to use as the applicable
dollar threshold for each expected procurement an
amount which does not exceed $1,000,000.
(E) The Trust shall establish procedures for lease
agreements and other agreements for use and occu-
pancy of Presidio facilities, including a requirement
that in entering into such agreements the Trust shall
obtain reasonable competition.
(F) The Trust shall develop a comprehensive pro-
gram for management of those lands and facilities
within the Presidio which are transferred to the
Trust. Such program shall be designed to reduce costs
to the maximum extent possible. In carrying out this
program, the Trust shall be treated as a successor in
interest to the National Park Service with respect to
compliance with the National Environmental Policy
Act and other environmental compliance statutes.
Such program shall consist of—
(i) demolition of all structures which cannot
be cost-effectively rehabilitated and are not of the
highest degree of historical significance,
(ii) new construction which would be lim-
ited to replacement of existing structures of simi-
lar size in existing areas of development, and
(iii) examination of a full range of reason-
able options for carrying out routine administra-
tive and facility management programs.
The Trust shall consult with the Secretary in the
preparation of this program.
(3) The Trust is authorized to appoint and fix
the compensation and duties of an executive director
and such other officers and employees as it deems nec-
essary without regard to the provisions of title 5,
United States Code, governing appointments in the
competitive service, and may pay them without re-
gard to the provisions of chapter 51, and subchapter
III of chapter 53, title 5, United States Code (relating
to classification and General Schedule pay rates).
(4) To augment or encourage the use of non-Fed-
eral funds to finance capital improvements on Pre-
sidio properties transferred to its jurisdiction, the
Trust, in addition to its other authorities, shall have
the following authorities:
(A) The authority to guarantee any lender
against loss of principal or interest on any loan,
provided that (i) the terms of the guarantee are
approved by the Secretary of the Treasury, (ii)
adequate guarantee authority is provided in ap-
propriations Acts, and (iii) such guarantees are
structured so as to minimize potential cost to the
Federal Government. No loan guarantee under
this Act shall cover more than 75 percent of the
unpaid balance of the loan. The Secretary of the
Treasury shall collect a commercially reasonable
guarantee fee in connection with each loan guar-
anteed under this Act. The authority to enter
into any such loan guarantee agreement shall ex-
pire at the end of 12 years after the date of en-
actment of this Act.
(B) The authority, subject to available ap-
propriations, to make loans to the occupants of
property managed by the Trust for the preserva-
tion, restoration, maintenance, or repair of such
property.
(C) The authority to issue obligations to the
Secretary of the Treasury, but only if the Sec-
retary of the Treasury agrees to purchase such
obligations after determining that the projects to
be funded from the proceeds thereof are credit
worthy and that a repayment schedule is estab-
lished. The Secretary of the Treasury is author-
ized to use as a public debt transaction the pro-
ceeds from the sale of any securities issued under
chapter 31 of title 31, United States Code, and
the purposes for which securities may be issued
under such chapter are extended to include any
purchase of such notes or obligations acquired by
the Secretary of the Treasury under this sub-
section. The aggregate amount of obligations is-
sued under this subparagraph which are out-
standing at any one time may not exceed
$50,000,000. Obligations issued under this sub-
paragraph shall be in such forms and denomina-
tions, bearing such maturities, and subject to
such terms and conditions, as may be prescribed
by the Secretary of the Treasury, and shall bear
interest at a rate determined by the Secretary of