LAND EXCHANGE, NAVAL RESERVE READINESS CENTER, PORTLAND, MAINE.

SEC. 2852. LAND EXCHANGE, NAVAL RESERVE READINESS CENTER, PORTLAND, MAINE. (a) Conveyance Authorized.— (1) The Secretary of the Navy may convey to the Gulf of Maine Aquarium Development Corporation, Portland, Maine (in this section referred to as the “Corporation”), all right, title, and interest of the United States in and to a parcel of real property, including improvements thereon, consisting of approximately 3.72 acres in Portland, Maine, and containing the Naval Reserve Readiness Center, Portland, Maine, for the purpose of permitting the Corporation to use the parcel for economic development and as the site for an aquarium and marine research facility. (2) As part of the conveyance under paragraph (1), the Secretary shall also convey to the Corporation any interest of the United States in the submerged lands adjacent to the real property conveyed under that paragraph that is appurtenant to the real property conveyed under that paragraph. (b) Provision of Replacement Facilities.— As consideration for the conveyance authorized by subsection (a), the Corporation shall design and construct such facilities as the Secretary determines appropriate for the Naval Reserve to replace the facilities conveyed under that subsection. (c) Location of Replacement Facilities.— (1) To provide a location for the replacement facilities required under subsection (b), the Corporation shall— (A) convey to the United States all right, title, and interest in and to a parcel of real property determined by the Secretary to be an appropriate location for such facilities; or (B) design and construct such facilities on such parcel of real property under the jurisdiction of the Secretary as the Secretary shall specify. (2) The Secretary shall select the alternative provided under paragraph (1) to be used by the Corporation. (d) Notice and Wait.— The Secretary may not make the conveyance authorized by subsection (a) until 21 days after the date on which the Secretary submits to the congressional defense112 STAT. 2221committees a report specifying the terms and conditions under which the conveyance will occur. (e) Description of Property.— The exact acreage and legal description of the real property to be conveyed under subsection (a)(1), of any interest to be conveyed under subsection (a)(2), and of the real property, if any, to be conveyed under subsection (c)( 1)(A) shall be determined by surveys satisfactory to the Secretary. The cost of the surveys shall be borne by the Corporation. (f) Additional Terms and Conditions.— The Secretary may require such additional terms and conditions in connection with the conveyance under subsection (a) as the Secretary considers appropriate to protect the interests of the United States.