(1) Responsibilities.— The responsibilities of the Corporation transferred to the Administration under subsection (a) include
(A) the collection of revenue owed the Federal Government as a result of real estate sales or lease agreements made by the Corporation and private parties, including
(i) the Willard Hotel property on Square 225;
(ii) the Gallery Row project on Square 457;
(iii) the Lansburghs project on Square 431; and
(iv) the Market Square North project on Square 407;
(B) the collection of sale or lease revenue owed the Government from the sale or lease before April 1, 1996, of two undeveloped sites owned by the Corporation on Squares 457 and 406;
(C) the application of collected revenue to repay Treasury debt the Corporation incurred when acquiring real estate;
(D) performing financial audits for projects in which the Corporation has actual or potential revenue expectation, as identified in subparagraphs (A) and (B), in accordance with procedures described in applicable sale or lease agreements;
(E) the disposition of real estate properties which are or become available for sale and lease or other uses;
(F) payment of benefits in accordance with the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (
42 U.S.C.
4601 et seq.) to which persons in the project area squares are entitled as a result of the Corporations acquisition of real estate; and
(G) carrying out the responsibilities of the Corporation under subchapter III and the Federal Triangle Development Act (Public Law 100113, 101 Stat. 735), including responsibilities for managing assets and liabilities of the Corporation under subchapter III and the Act.
(2) Powers.— In carrying out the responsibilities of the Corporation transferred under this section, the Administrator of General Services may
(A) acquire land, improvements, and property by purchase, lease or exchange, and sell, lease, or otherwise dispose of any property, as necessary to complete the development plan developed under section 5 of the Pennsylvania Avenue Development Corporation Act of 1972 (Public Law 92578, 86 Stat. 1269) if a notice of intention to carry out the acquisition or disposal is first transmitted to the Committee on Transportation and Infrastructure and the Committee on Appropriations of the House of Representatives and the Committee on Environment and Public Works and the Committee on Appropriations of the Senate and at least 60 days elapse after the date of the transmission;
(B) modify the plan referred to in subparagraph (A) if the modification is first transmitted to the Committee on Transportation and Infrastructure and the Committee on Appropriations of the House of Representatives and the Committee on Environment and Public Works and the Committee on Appropriations of the Senate and at least 60 days elapse after the date of the transmission;
(C) maintain any existing Corporation insurance programs;
(D) make and perform transactions with an agency or instrumentality of the Federal Government, a State, the District of Columbia, or any person as necessary to carry out the responsibilities of the Corporation under subchapter III and the Federal Triangle Development Act (Public Law 100113, 101 Stat. 735);
(E) request the Council of the District of Columbia to close any alleys necessary for the completion of development in Square 457; and
(F) use all of the amount transferred from the Corporation or income earned on Corporation property to complete any pending development projects.
