Denver Federal Center Redevelopment Act - Authorizes the Administrator of General Services to enter into leases of Federal real property, including improvements thereon, with totally nonfederal entities to provide for the construction, rehabilitation, operation, maintenance, or use of all, or portions of, the Denver Federal Center.
Lists terms and conditions for such a lease (master lease), including that it: (1) have as its primary purpose enhancing the value of the Center; (2) be negotiated pursuant to such procedures as the Administrator considers necessary to ensure the integrity of the selection process and to protect U.S. interests; (3) be for a term not to exceed 50 years; and (4) provide that all development risk remain with the nonfederal entity. Directs that a master lease be for fair consideration.
Requires that net proceeds from a master lease be deposited into, administered, and expended, subject to appropriations Acts, as part of the Federal Building Fund. Authorizes the Administrator to retain from the proceeds of a master lease amounts necessary to recover the expenses incurred by the Administrator with respect to such lease.
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