To provide for the conveyance of certain real property by the Administrator of General Services.

Directs the Administrator of General Services to convey by sale to the City of Key West, Florida, or the Monroe County Land Authority in Monroe County, Florida, the Poinciana Plaza Housing property, located in Key West.

Directs the Administrator to deposit the net proceeds received as payment for the sale into the Department of Defense Base Closure Account 1990.

Authorizes the property only to be used for the purpose of providing housing and housing assistance for low- and moderate-income individuals and families for at least the first 30 years after the conveyance.