Summary: S.1827 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for S.1827. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (11/01/1989)

Amends the Independent Agencies Appropriations Act, 1988 to authorize the Administrator of the General Services Administration (GSA) to acquire from New York City by condemnation the real property necessary for the construction of a new courthouse annex for the southern district of New York, a Federal and municipal office building, and additional parking space. Authorizes the Administrator to: (1) establish the value of the just compensation for such real property by agreement with the City; (2) provide for payment of such compensation to the City by the contractor responsible for financing the construction of such buildings; (3) take title to such property for the United States after payment of such amount by the contractor; (4) reimburse the contractor for the payment of that amount plus interest over a period not to exceed 30 years out of funds available in the Federal Building Fund for the rental of space; and (5) establish rental rates for the lease of office space and associated parking to the City without applying a credit reflecting the value of the land acquired.

Requires such lease to provide for a lease period of 30 years and options for the City to renew the lease for up to three successive lease periods of 30 years each.

Prohibits the total rent paid by the City to GSA for each such renewal period from exceeding the City's pro rata share of the cost of the capital replacement, repair, maintenance, and operation of the building in which such office space used by the City is located and any associated parking facility.