Page:United States Statutes at Large Volume 122.djvu/1645

 12 2 STA T . 1 6 22 PUBLIC LA W 11 0– 2 4 4 —J U NE 6, 200 8(1)INGE NE RAL.—Ascon s iderat ion f ort h e p arce l to b e con v e y ed u nder subsection (a) , the Ad m inistrator shall re q uire the C orporation to— (A) convey replacement property in accordance w ith para g raph ( 2 ) or ( B ) pay the purchase price for the parcel in accordance with paragraph ( 3 ). (2) R E P LA C E M EN T PR O PERT Y .—If the Administrator requires the Corporation to provide consideration under paragraph (1)(A), the Corporation shall— (A) convey, and pay the cost of conveying, to the U nited S tates, acting by and through the Administrator, fee simple title to real property, including a building, that the Administrator determines to be suitable as a replacement facility for the parcel to be conveyed under subsection (a); and (B) provide such other consideration as the Adminis - trator and the Corporation may agree, including payment of the costs of relocating the occupants vacating the parcel to be conveyed under subsection (a). (3) PU RC H A S EPR I CE.—If the Administrator requires the Corporation to provide consideration under paragraph (1)(B), the Corporation shall pay to the Administrator the fair mar k et value of the parcel to be conveyed under subsection (a) based on its highest and best use as determined by an independent appraisal commissioned by the Administrator and paid for by the Corporation. (d) APPRAISAL.—In the case of an appraisal under subsection (c)(3)— (1) the appraisal shall be performed by an appraiser mutu- ally acceptable to the Administrator and the Corporation; and (2) the assumptions, scope of work, and other terms and conditions related to the appraisal assignment shall be mutu- ally acceptable to the Administrator and the Corporation. (e) PROCEE D S.— (1) D EPOSIT.—Any proceeds received under subsection (c) shall be paid into the F ederal Buildings Fund established under section 59 2 of title 40, United States Code. (2) EX PENDITURE.—Funds paid into the Federal Buildings Fund under paragraph (1) shall be available to the Adminis- trator, in amounts specified in appropriations Acts, for e x pendi- ture for any lawful purpose consistent with existing authorities granted to the Administrator; except that the Administrator shall provide to the Committee on T ransportation and Infra- structure of the H ouse of Representatives and the Committee on Environment and Public W orks of the Senate 30 days advance written notice of any expenditure of the proceeds. (f) ADDITIONAL TERMS AND CONDITIONS.—The Administrator may require such additional terms and conditions to the conveyance under subsection (a) as the Administrator considers appropriate to protect the interests of the United States. (g) DESCRIPTION O F PROPERTY AND SUR V EY.—The exact acreage and legal description of the parcels to be conveyed under subsections (a) and (c)(2) shall be determined by surveys satisfactory to the Administrator and the Corporation. Notif i ca tio n.

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