12 2 STA T .4 2 03PUBLIC LA W 110 – 3 9 3 —O CT. 13 , 200 8PublicLaw1 1 0–39 3 110 thCongres s A n Act Toauth o rize the S e c retar y o fC o m merce to s e l lore x cha ng e certain N ational O ceanic an dA tmos p heric Administration property located in Norfol k,V irginia, and for other purposes .Beit e nac te dby t h e S enate and Hous eo fR e pr esentati v es of the U nited States of Am erica in C on g ress assemb l ed ,SECTION1. S AL EO R E X C H AN G EO F NOAA P ROPERT Y IN NORFOL K,V IRGINIA. (a)INGE NE RAL.—TheS e cr e t ar yofC o m merce may s e l lor e x cha ng etotheC i ty of N orfol k,V irginia, in accor d ance w ith cha p ter 13 of title 40 , U nited States Code, real property u nder the adminis - trati v e j urisdiction of the National O ceanic and A tmospheric Administration (in this section referred to as ‘ ‘NOAA ’ ’), including land and improvements thereon, located at 5 3 8F ront Street, Nor- folk, Virginia, consisting of approximately 3. 7 8 acres, if the Sec- retary— (1) determines that the conveyance is in the b est interests of NOAA and the Federal Government
and ( 2 ) has provided prior notification to the Committee on Natural R esources and the Committee on Appropriations of the H ouse of Representatives and the Committee on Commerce, Science, and Transportation and the Committee on Appropria- tions of the Senate. (b) C O N SID ERA T ION.— (1) IN G ENERAL.—For any conveyance under this section the Secretary shall re q uire the City of Norfolk to provide consid- eration to the United States that is not less than the fair market value of the property conveyed by the United States. (2) FOR M .—Consideration under this subsection may include any combination of— (A) cash or cash equivalents; ( B ) other property (either real or personal); and (C) consideration in-kind, including— (i) provision of space, goods, or services of benefit to NOAA including construction, repair, remodeling, or other physical improvements of NOAA property; (ii) maintenance of NOAA property; (iii) provision of office, storage, or other useable space; or (iv) relocation services associated with conveyance of property under this section. (3) D ETERMINATION O F FAIR MAR K ET V AL U E.—The Secretary shall determine fair market value for purposes of paragraph (1) based upon a highest- and best-use appraisal of the property Notif i ca tio n.O ct. 13,20 0 8[H . R . 5 350 ]
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