Baudette Coast Guard Housing Conveyance Act
(Sec. 2) This bill directs the Coast Guard to convey specified federal land (including buildings, structures, utilities, and miscellaneous facilities) in Baudette, Minnesota, to the city of Baudette, upon payment to the United States of the property's fair market value.
The fair market value of the covered property must be:
determined by a real estate appraiser selected by the city, and licensed to practice in Minnesota; and subject to the approval of the Coast Guard, considering specified requirements regarding use of the property. Any proceeds received by the United States from a conveyance under this Act shall be deposited in the Coast Guard Housing Fund.
As a condition of any conveyance under this Act, the Coast Guard shall require that all interest in and to the covered property revert to the United States if any part of the property ceases being used for:
affordable housing or a related purpose, or infrastructure providing a public benefit approved by the city. The authority to convey the covered property shall expire four years after this Act's enactment.
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