U.S. Code » Title 40 » Subtitle SUBTITLE I— FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter CHAPTER 13— PUBLIC PROPERTY

40 U.S.C. § 25

SALE OF COTTON ANNEX.

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“(a)Definition.—In this section, the term ‘property’ means property located in the District of Columbia, subject to survey and as determined by the Administrator, generally consisting of Square 326 south of C Street, all in Southwest Washington, District of Columbia, including the building known as the Cotton Annex.“(b)Sale.—Not later than December 31, 2018, the Administrator shall sell the property at fair market value at highest and best use.“(c)Net Proceeds.—Any net proceeds received shall be paid into an account in the Federal Buildings Fund established under section 592 of title 40, United States Code. Upon deposit, the net proceeds from the sale may be expended only subject to a specific future appropriation.