LAND CONVEYANCE, ELMENDORF AIR FORCE BASE, ALASKA.

SEC. 2875. LAND CONVEYANCE, ELMENDORF AIR FORCE BASE, ALASKA. (a) Conveyance to Private Person Authorized— The Secretary of the Air Force may convey to such private person as the Secretary considers appropriate, all right, title, and interest of the United States in and to a parcel of real property consisting of approximately 31.69 acres that is located at Elmendorf Air Force Base, Alaska, and identified in land lease W–95–507–ENG–58. (b) Consideration.— As consideration for the conveyance under subsection (a), the purchaser shall pay to the United States an amount equal to the fair market value of the real property to be conveyed, as determined by the Secretary. In determining the fair market value of the real property, the Secretary shall consider 110 STAT. 584the property as encumbered by land lease W-95-507-ENG-58, with an expiration date of June 13, 2024. (c) Condition of Conveyance.— The conveyance authorized by subsection (a) shall be subject to the condition that the purchaser of the property— (1) permit the lease of the apartment complex located on the property by members of the Armed Forces stationed at Elmendorf Air Force Base and their dependents; and (2) maintain the apartment complex in a condition suitable for such leases. (d) Deposit of Proceeds.— The Secretary shall deposit the amount received from the purchaser under subsection (b) in the special account established under section 204(h)(2) of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 485(h)(2)). (e) Description of Property.— The exact acreage and legal description of the real property to be conveyed under subsection (a) shall be determined by a survey satisfactory to the Secretary. The cost of the survey shall be borne by the purchaser of the real property. (f) Additional Terms and Conditions.— The Secretary may require such additional terms and conditions in connection with the conveyance under this section as the Secretary considers appropriate to protect the interests of the United States.