12 2 STA T .5 55 PUBLIC LA W 11 0– 1 8 1 —J A N .28 , 2008 (8)SECTORD ETRO I T .—Thet e rm‘ ‘Se c t o r D etro i t ’ ’me ansC oast Gu ar d Sector Detroit o f the N inth Coast Guard District. ( b )CO NV E YA NCE AU T H ORI Z ED.—The Commandant of the Coast Guard , in coordination w ith the Administrator, ma y con v ey to the E DCa l lri g ht, title, and interest of the U nited States in and to the F ederal land. (c) CON S IDERATION.— ( 1 ) I N G ENERA L .—As consideration for the conveyance under subsection (b)— (A) the City shall convey to the United States all right, title, and interest in and to the City land
and ( B ) the EDC shall construct a facility and p ar k ing lot acceptable to the Commandant of the Coast Guard. ( 2 )E Q UALIZATION P AY M ENT OPTION.— (A) IN GENERAL.—The Commandant may, upon the agreement of the City and the EDC, waive the re q uirement to construct a facility and parking lot under paragraph (1)(B) and accept in lieu thereof an equali z ation payment from the City equal to the difference between the value, as determined by the Administrator at the time of transfer, of the Federal land and the City land. (B) AVAILA B ILITY O F FUNDS.—Any amounts received pursuant to subparagraph (A) shall be available to the Commandant, without further appropriation and until e x pended, to construct, expand, or improve facilities related to Sector Detroit’s aids to navigation or vessel maintenance. (d) CONDITIONS OF E X CHANGE.— (1) COVENANTS.—All conditions placed within the deeds of title shall be construed as covenants running with the land. (2) AUTHORITY TO ACCEPT QUITCLAIM DEED.—The Com - mandant may accept a quitclaim deed for the City land and may convey the Federal land by quitclaim deed. ( 3 ) ENVIRONMENTAL REMEDIATION.— P rior to the time of the exchange, the Coast Guard and the EDC shall remediate any and all contaminants existing on their respective properties to levels required by applicable State and Federal law. The Commandant and, as a condition of the exchange, the EDC shall make available for review and inspection any record relating to hazardous materials on the land to be exchanged under this section. The costs of remedial actions relating to hazardous materials on exchanged land shall be paid by those entities responsible for costs under applicable law. (e) AUTHORITY TO ENTER INTO L ICENSE OR LEASE.—The Com- mandant may enter into a license or lease agreement with the Detroit R iverfront Conservancy for the use of a portion of the Federal land for the Detroit Riverfront W alk. Such license or lease shall be at no cost to the City and upon such other terms that are acceptable to the Commandant, and shall terminate upon the completion of the exchange authorized by this section, or the date specified in subsection (h), whichever occurs earlier. (f) M AP AND LEGAL DESCRIPTIONS OF LAND.— (1) IN GENERAL.—As soon as practicable after the date of enactment of this Act, the Commandant shall file with the Committee on Commerce, Science and Transportation of the Senate and the Committee on Transportation and Infrastruc- ture of the H ouse of Representatives the maps, entitled
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