To permit the city of Cleveland, Ohio, to convey certain lands that the United States conveyed to the city.

Authorizes the Secretary of Transportation to waive any of the terms contained in the deed issued by the United States, dated January 10, 1967, for the conveyance of lands to the city of Cleveland, Ohio, for use for airport purposes, provided that such city conveys an interest in such lands only in exchange for an amount equal to the fair market value of the interest or an equivalent benefit.

Requires that any amount or equivalent benefit that is received by the city be used for: (1) the development, improvement, operation, or maintenance of a public airport; or (2) lands (including any improvements) that produce revenues that are used for airport development purposes.