LAND CONVEYANCE, PORT OF ANCHORAGE, ALASKA.

SEC. 2863. LAND CONVEYANCE, PORT OF ANCHORAGE, ALASKA. (a) Conveyance Authorized.—The Secretary of the Air Force and the Secretary of the Interior may convey, without consideration, to the Port of Anchorage, an entity of the City of Anchorage, Alaska (in this section referred to as the “Port”), all right, title, and interest of the United States in and to two parcels of real property, including improvements thereon, consisting of a total of approximately 14.22 acres located adjacent to the Port of Anchorage Marine Industrial Park in Anchorage, Alaska, and leased by the Port from the Department of the Air Force and the Bureau of Land Management, for the purpose of permitting the Port to use the parcels for economic development. (b) 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 of the Air Force and the Secretary of the Interior. The cost of the survey shall be borne by the Port. (c) Reversionary Interest.—During the five-year period beginning on the date the Secretary concerned makes the conveyance authorized under subsection (a), if that Secretary determines that the real property conveyed by that Secretary is not being used in accordance with the purpose of the conveyance specified in such subsection, all right, title, and interest in and to that property, including any improvements thereon, shall revert to the United States, and the United States shall have the right of immediate entry onto the property. Any determination of the Secretary concerned under this subsection shall be made on the record after an opportunity for a hearing. (d) Additional Terms and Conditions.—The Secretary of the Air Force and the Secretary of the Interior may require such additional terms and conditions in connection with the conveyance under subsection (a) as the Secretaries considers appropriate to protect the interests of the United States.113 STAT. 870