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g. It agrees that the United States has a right to seek judicial enforcement with <br />regard to any matter arising under the acts, the regulations, and this assurance. <br />31. Disposal of Land. <br />For land purchased under a grant for airport noise compatibility purposes, <br />including land serving as a noise buffer, it will dispose of the land, when the land is <br />no longer needed for such purposes, at fair market value, at the earliest <br />practicable time. That portion of the proceeds of such disposition which is <br />proportionate to the United States' share of acquisition of such land will be, at the <br />discretion of the Secretary, (1) reinvested in another project at the airport, or (2) <br />transferred to another eligible airport as prescribed by the Secretary. The <br />Secretary shall give preference to the following, in descending order: <br />1. Reinvestment in an approved noise compatibility project; <br />2. Reinvestment in an approved project that is eligible for grant funding <br />under 49 U.S.C. § 47117(e); <br />3. Reinvestment in an approved airport development project that is <br />eligible for grant funding under 49 U.S.C. § 47114, 47115, or 47117, or <br />under Public Law 117-58, Division J, Title VIII; or <br />4. Transfer to an eligible sponsor of another public airport to be <br />reinvested in an approved noise compatibility project at that airport. <br />If land acquired under a grant for noise compatibility purposes is leased at fair <br />market value and consistent with noise buffering purposes, the lease will not be <br />considered a disposal of the land. Revenues derived from such a lease may be <br />used for an approved airport development project that would otherwise be <br />eligible for grant funding or any permitted use of airport revenue. <br />b. For land purchased under a grant for airport development purposes (other than <br />noise compatibility), it will, when the land is no longer needed for airport <br />purposes, dispose of such land at fair market value or make available to the <br />Secretary an amount equal to the United States' proportionate share of the fair <br />market value of the land. That portion of the proceeds of such disposition which is <br />proportionate to the United States' share of the cost of acquisition of such land <br />will, upon application to the Secretary, be reinvested or transferred to another <br />eligible airport as prescribed by the Secretary. The Secretary shall give preference <br />to the following, in descending order: <br />1. Reinvestment in an approved noise compatibility project; <br />2. Reinvestment in an approved project that is eligible for grant funding <br />under 49 U.S.C. § 47117(e); <br />3. Reinvestment in an approved airport development project that is <br />eligible for grant funding under 49 U.S.C. §§ 47114, 47115, or 47117, <br />or under Public Law 117-58, Division J, Title VIII; or <br />4. Transfer to an eligible sponsor of another public airport to be <br />reinvested in an approved noise compatibility project at that airport. <br />c. Land shall be considered to be needed for airport purposes under this assurance if <br />(1) it may be needed for aeronautical purposes (including runway protection <br />Page 38 of 43 <br />