(a)
The Director of General Services, with the approval of the Adjutant General, may lease for not more than 99 years or sell for fair market value upon terms and conditions and subject to any reservations and exceptions as may be determined to be in the best interests of the state any real property held for armory purposes. Real property shall not be sold or
leased pursuant to this subdivision unless the Legislature, by statute, approves the sale or lease of the property.
(b)
There is in the State Treasury the Armory Fund. All net
proceeds from the sale or lease of an armory shall be deposited in the fund. The money in the fund is available, upon appropriation by the Legislature, for the maintenance of existing armories, and for the acquisition or construction of new or replacement armories, including, but not limited to, the cost of design. The disposition of armory properties is not subject to subdivision (g) of Section 11011 of the Government Code.
(c)
For the purposes of this section, “net proceeds”
are the gross proceeds less:
(1)
Outstanding reimbursements due to the Property Acquisition Law Money Account for costs incurred by the Department of General Services in selling an armory property.
(2)
All costs directly related to the disposition of an armory, including, but not limited to, all costs and expenses incurred by the Department of General Services, as specified in subdivision (d).
(d)
Notwithstanding subdivision (b), the Department of General Services shall, upon appropriation by the Legislature, use funds from the Property Acquisition Law Money Account for the purposes of selling armory properties. The Director of Finance may approve loans from the General Fund to
the Property Acquisition Law Money Account.
(e)
The sale of an armory shall be made on an “as is” basis and is exempt from Division 13 (commencing with Section 21100) of the Public Resources Code. Upon vesting title of the armory to the purchaser or transferee of the armory, the purchaser or transferee shall be subject to any local governmental land use entitlement requirements and to Division 13 (commencing with Section 21100) of the Public Resources Code.