H.R.2406 - To authorize the Administrator of General Services to convey a parcel of real property in Tracy, California, to the City of Tracy.112th Congress (2011-2012)
|Sponsor:||Rep. McNerney, Jerry [D-CA-11] (Introduced 07/06/2011)|
|Committees:||House - Oversight and Government Reform; Transportation and Infrastructure|
|Latest Action:||07/07/2011 Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.|
|Notes:||For further action, see S.1302, which became Public Law 112-119 on 5/15/2012.|
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Summary: H.R.2406 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (07/06/2011)
Authorizes the Administrator of General Services (GSA) to offer to enter into a binding agreement with the city of Tracy, California, under which the Administrator may convey to the city any reversionary interest retained by the United States in a specified parcel of land conveyed to the city for educational or recreational purposes and all other terms, conditions, reservations, and restrictions imposed in connection with the conveyance of such parcel.
Requires the city to pay to the Administrator not less than the appraised fair market value of the parcel, as determined by the Administrator pursuant to an appraisal, based on the highest and best use of the parcel. Makes such determination regarding the value of such parcel final.
Makes the city responsible for reimbursing the Administrator for costs associated with the implementation of this Act, including the costs of each applicable appraisal and survey.
Requires the net proceeds from such conveyance to be deposited into the Federal Buildings Fund and made available for expenditure for any lawful purpose consistent with the Administrator's authority.