If any real property that, under the provisions of § 33.2-1005, is or may become eligible for reconveyance is deemed suitable for the mass transit purposes of a public agency, authority, instrumentality, or public service corporation or company, and such entity has submitted tentative plans to the Commissioner of Highways for a mass transit facility utilizing such real property, or portions thereof, and, prior to the eligibility of that real property for reconveyance under this article, the Commissioner of Highways has approved the use of such real property for mass transit purposes, such real estate shall not be eligible for reconveyance under those sections. Upon the formulation of final plans for the facility, the Commissioner of Highways is authorized to enter into an agreement with any such entity for the conveyance of the property to such entity. Any property or portions thereof not necessary for the mass transit facility shall become eligible for reconveyance under the provisions of § 33.2-1005 upon a determination of the final plans for the facility. Such agreement shall provide for the payment to the Commonwealth of an amount equal to that expended by the Commonwealth in the acquisition of such real property, including proportionate administrative costs and costs under the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended. Upon payment of the agreed consideration, the Commissioner of Highways shall convey the specified property to the facility. However, if construction of such planned facilities is not commenced within 10 years from the date of the agreement between the transit agency and the Commissioner of Highways, the persons who would otherwise have been authorized to petition for reconveyance under § 33.2-1005 or their heirs or assigns may seek reconveyance under the same procedures and on the same basis as established in § 33.2-1005. This section shall not compel the Commissioner of Highways to convey any such property to such entities in contravention of any federal law or regulation affecting the disposition of real property acquired for highway purposes when such property is no longer needed for such purposes when such property has been acquired with federal funding participation.