Page:United States Statutes at Large Volume 124.djvu/4500

 124 STAT. 4474 PUBLIC LAW 111–383—JAN. 7, 2011 the Secretary of the Navy agrees is excess to the needs of the Navy. (c) INTERIM LEASE.—Until such time as the real property described in subsection (a) is conveyed by deed, the Secretary of the Navy may lease the property to the Port Authority. (d) CONSIDERATION.— (1) CONVEYANCE.—The conveyance under subsection (a) shall be made without consideration as a public benefit convey- ance for port development if the Secretary of the Navy deter- mines that the Port Authority satisfies the criteria specified in section 554 of title 40, United States Code, and regulations prescribed to implement such section. If the Secretary deter- mines that the Port Authority fails to qualify for a public benefit conveyance, but still desires to acquire the property, the Port Authority shall pay to the United States an amount equal to the fair market value of the property to be conveyed. The fair market value of the property shall be determined by the Secretary. (2) LEASE.—The Secretary of the Navy may accept as consideration for a lease of the property under subsection (c) an amount that is less than fair market value if the Secretary determines that the public interest will be served as a result of the lease. (e) DESCRIPTION OF PROPERTY.—The exact acreage and legal description of the property to be conveyed under subsection (a) shall be determined by a survey satisfactory to the Secretary of the Navy and the Port Authority. The cost of such survey shall be borne by the Port Authority. (f) ADDITIONAL TERMS.—The Secretary of the Navy may require such additional terms and conditions in connection with the convey- ance as the Secretary considers appropriate to protect the interests of the United States. Subtitle F—Other Matters SEC. 2851. LIMITATION ON AVAILABILITY OF FUNDS PENDING REPORT REGARDING CONSTRUCTION OF A NEW OUTLYING LANDING FIELD IN NORTH CAROLINA AND VIRGINIA. (a) FINDINGS.—Congress makes the following findings: (1) The Navy has studied the feasibility and potential loca- tions of a new outlying landing field on the East Coast since 2001. (2) Since January 2008, the Navy has studied five potential sites in North Carolina and Virginia, whose communities have expressed opposition. Some local governments where the sites under consideration are located have taken formal action in opposition by resolution or correspondence to the Navy and congressional officials. (b) LIMITATION ON FUNDS PENDING REPORT.— (1) IN GENERAL.—The Secretary of the Navy may not obli- gate or expend funds for the study or development of a new outlying landing field in North Carolina or Virginia after fiscal year 2011 until the Secretary has provided the congressional defense committees a report on the Navy’s efforts with respect to the outlying landing field. Payments. Regulations. Determination.