To amend title 40, United States Code, to authorize the Administrator of General Services to lease and redevelop certain Federal property on the Denver Federal Center in Lakewood, Colorado.

SECTION 1. SHORT TITLE.

    This Act shall be cited as the ``Denver Federal Center 
Redevelopment Act''.

SEC. 2. DENVER FEDERAL CENTER DEVELOPMENT AUTHORITY.

    Part C of subtitle II of title 40, United States Code, is amended 
by adding at the end thereof the following new chapter:

            ``CHAPTER 71--DENVER FEDERAL CENTER DEVELOPMENT

``Sec. 7101. Master lease development authority
    ``(a) In General.--The Administrator of General Services may enter 
into leases of Federal real property, including improvements thereon, 
with totally non-Federal entities to provide for the construction, 
rehabilitation, operation, maintenance, or use of all, or portions of, 
the Denver Federal Center as described in section 7106, or such other 
activities related to the Denver Federal Center as the Administrator 
considers appropriate. For purposes of this chapter, a lease of Federal 
real property, including improvements thereon, shall be referred to as 
a master lease.
    ``(b) Terms and Conditions.--A master lease entered into under this 
section--
            ``(1) shall have as its primary purpose enhancing the value 
        of the Denver Federal Center to the United States;
            ``(2) shall be negotiated pursuant to such procedures as 
        the Administrator considers necessary to ensure the integrity 
        of the selection process and to protect the interests of the 
        United States;
            ``(3) may provide a lease option to the United States, to 
        be exercised at the discretion of the Administrator, to occupy 
        any general purpose office, storage or other usable space in a 
        facility covered under the master lease;
            ``(4) shall be for a term not to exceed 50 years;
            ``(5) shall describe the consideration, duties and 
        responsibilities for which the United States and the non-
        Federal entity are responsible;
            ``(6) shall provide--
                    ``(A) that all development risk shall remain with 
                the non-Federal entity;
                    ``(B) that the United States will not be liable for 
                any action, debt or liability of any non-Federal 
                entity; and
                    ``(C) that such non-Federal entity may not execute 
                any instrument or document creating or evidencing any 
                indebtedness unless such instrument or document 
                specifically disclaims any liability of the United 
                States under the instrument or document; and
            ``(7) shall include such other terms and conditions as the 
        Administrator considers appropriate.
    ``(c) Consideration.--A master lease entered into under this 
section shall be for fair consideration, as determined by the 
Administrator. Consideration under a master lease may be provided in 
whole or in part through in-kind consideration, including provision of 
other real and related property, goods or services of benefit to the 
United States, construction, repair, remodeling, or other physical 
improvements of Federal property, environmental remediation or 
maintenance of Federal property, or the provision of office, storage or 
other usable space.
``Sec. 7102. Additional authorities
    ``(a) Authority To Convey Remaining Interests.--In carrying out a 
master lease entered into under this chapter, the Administrator is 
authorized to convey the interest of the United States in the property 
covered by the master lease to the non-Federal entity by sale or 
exchange, if the Administrator first determines in writing that such 
conveyance is in the interests of the United States;
    ``(b) Other Authorities Not Affected.--The authority to enter into 
a master lease under this chapter shall be in addition to, and not in 
lieu of, any other authorities of the Administrator to convey interests 
in real property by lease, sale, or exchange.
    ``(c) Obligations To Make Payments.-- Any obligation to make 
payments by the Administrator for the use of space, goods or services 
by the General Services Administration on property that is subject to a 
master lease under this chapter may only be made to the extent that 
necessary funds have been made available to the Administrator, in 
advance, in an annual appropriations Act.
``Sec. 7103. Relationship to other laws
    ``(a) In General.--The authority of the Administrator under this 
chapter shall not be subject to--
            ``(1) sections 521 through 529 and sections 541 through 
        559;
            ``(2) section 1302;
            ``(3) section 3307; or
            ``(4) any other provision of law (other than Federal laws 
        relating to environmental and historic preservation) 
        inconsistent with this chapter.
    ``(b) Unutilized or Underutilized Property.--Any property covered 
under a master lease entered into under this section shall be deemed to 
be property for which there is a continuing Federal need and may not be 
considered to be unutilized or underutilized for purposes of section 
501 of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11411).
``Sec. 7104. Use of proceeds
    ``(a) In General.--Net proceeds from a master lease entered into 
under section 7101 shall be deposited into, administered, and expended, 
subject to appropriations Acts, as part of the Federal Building Fund 
established under section 592. In this section, the term `net proceeds 
from a master lease entered into under section 7101' means the rental 
proceeds from the master lease minus the expenses incurred by the 
Administrator with respect to the master lease.
    ``(b) Recovery of Expenses.--The Administrator may retain from the 
proceeds of a master lease entered into under section 7101 amounts 
necessary to recover the expenses incurred by the Administrator with 
respect to the master lease. Such amounts shall be deposited in the 
account in the Treasury from which the Administrator incurs such 
expenses.
``Sec. 7105. Reporting requirements
    ``(a) In General.--Before entering into a master lease under 
section 7101, the Administrator of General Services shall transmit to 
the appropriate Committees of Congress a report on the proposed 
development and master lease of the Denver Federal Center not less than 
30 days before the award of a master lease;
    ``(b) Contents.--A report transmitted under this section shall 
include a summary of a cost-benefit analysis of the proposed 
development and a description of the provisions of the proposed master 
lease.
``Sec. 7106. Description of the Denver Federal Center
    ``As used in this chapter, the term `Denver Federal Center' means a 
parcel of land, located in section 9 and in the East half of the East 
half of the East half Section 8, Township 4 South, Range 69 West of the 
Sixth Principal Meridian, being more particularly described as follows:
            ``Commencing at the northeast corner of said section 9;
            ``thence S76 deg.38'34"W a distance of 779.20 feet to a 
        point on the southerly right-of-way line of West 6th Avenue 
        being also the true point of beginning;
            ``thence S45 deg.23'16"E a distance of 932.42 feet to a 
        point on the westerly right-of-way line of Kipling Street;
            ``thence along the westerly right-of-way line of said 
        Kipling Street the following three courses:
                    ``thence S00 deg.23'16"E, a distance of 1806.59 
                feet;
                    ``thence S00 deg.23'04"E, a distance of 2341.02 
                feet;
                    ``thence S44 deg.37'45"W, a distance of 355.19 feet 
                to a point on the northerly right-of-way line of West 
                Alameda Avenue;
            ``thence along the northerly right-of-way line of said West 
        Alameda Avenue the following three courses:
                    ``thence S89 deg.23'50"W, a distance of 2298.81 
                feet;
                    ``thence S89 deg.24'08"W, a distance of 2544.90 
                feet to a point of tangent curve;
                    ``thence along said curve to the left an arc 
                distance of 475.81 feet, having a central angle of 
                11 deg.38'25", a radius of 2342.00 feet and a chord 
                bearing of S83 deg.31'57"W, a chord distance of 474.99 
                feet to a point on the south line of the southeast 
                quarter of said section 8;
            ``thence S89 deg.37'30"W, along the said south line, a 
        distance of 296.29 feet to a point on the westerly line of the 
        east half of the east half of the east half of said section 8;
            ``thence along the westerly line of the east half of the 
        east half of the east half of said section 8 the following two 
        courses:
                    ``thence N00 deg.00'10"W, a distance of 2634.40 
                feet;
                    thence N00 deg.00'33"W, a distance of 2344.86 feet 
                to a point on the southerly right-of-way line of West 
                6th Avenue;
            ``thence along said southerly right-of-way line the 
        following five courses:
                    ``thence N89 deg.44'33"E, a distance of 655.37 feet 
                to a point on the westerly line of the northwest 
                quarter of said section 9;
                    ``thence N89 deg.44'33"E, a distance of 50.00 feet;
                    ``thence N81 deg.11'33"E, a distance of 856.70 
                feet;
                    ``thence N89 deg.14'41"E, a distance of 1741.83 
                feet;
                    ``thence N89 deg.14'40"E, a distance of 1876.55 
                feet to the point of beginning.
    ``Said parcel contains 29,182,824 square feet or 669.95 acres, more 
or less.
    ``Note: For the purpose of this description the bearings are based 
on the east line of the northeast quarter of said section 9 bearing 
S00 deg.23'16"E, a distance of 2640.79 feet and monumented by a found 
3\1/4\" aluminum cap marked `l.p.i. pls 34986' on the north end and by 
a found 3\1/4\" aluminum cap marked `vigil land consultants ls 20699' 
on the south end.''.

SEC. 3. CONFORMING AMENDMENT.

    The index for part C of subtitle II of title 40, United States 
Code, is amended by inserting the following at the end thereof:

                              ``Chapter 71--Denver Federal Center 
                                        Development''.

Summary: Denver Federal Center Redevelopment Act - Authorizes the Administrator of General Services to enter into leases of Federal real property, including improvements thereon, with totally nonfederal entities to provide for the construction, rehabilitation, operation, maintenance, or use of all, or portions of, the Denver Federal Center.

Lists terms and conditions for such a lease (master lease), including that it: (1) have as its primary purpose enhancing the value of the Center; (2) be negotiated pursuant to such procedures as the Administrator considers necessary to ensure the integrity of the selection process and to protect U.S. interests; (3) be for a term not to exceed 50 years; and (4) provide that all development risk remain with the nonfederal entity. Directs that a master lease be for fair consideration.

Requires that net proceeds from a master lease be deposited into, administered, and expended, subject to appropriations Acts, as part of the Federal Building Fund. Authorizes the Administrator to retain from the proceeds of a master lease amounts necessary to recover the expenses incurred by the Administrator with respect to such lease.