To require the Secretary of the Army to convey certain real property at Fort Ord, California, to the City of Seaside, California, in order to foster the economic development of the City, which has been adversely impacted by the closure of Fort Ord.

Directs the Secretary of the Army to convey to Seaside, California, all rights and interest to a portion of the former Fort Ord Military Complex. Requires the fair market value of such property to be paid by Seaside. Directs the Secretary to deposit part of the amount so paid into the Army's Morale, Welfare, and Recreation Fund and the remaining part into the Department of Defense Base Closure Account 1990.