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Accession Number PB2014-100545
Title Federal Real Property: Greater Transparency and Strategic Focus Needed for High-Value GSA Leases.
Publication Date Sep 2013
Media Count 49p
Personal Author N/A
Abstract Overreliance on costly leasing is one reason that federal real property has remained on GAO's high-risk list. GAO's work has shown that building ownership often costs less than leasing, especially for long-term space needs. For leases with a net annual rent above a threshold--$2.79 million in fiscal year 2012--GSA is required to submit a prospectus, or proposal, to Congress. GAO was asked to review these high-value leases. This report (1) identifies their characteristics and what GSA has done to reduce their cost and (2) assesses the extent to which GSA's capital-planning approach supports informed leasing decisions. GAO reviewed GSA data for all 218 active high-value leases as of November 2012 and selected 12 leases for case studies based on expiration dates, locations, and tenant agencies. GAO reviewed relevant legislation and guidance, interviewed agency officials, and compared GSA actions to leading practices.
Keywords Buildings
Costs
Decision making
Federal government
Leasing
Management planning and control
Real property
Risk
Transparency

 
Source Agency General Accounting Office
NTIS Subject Category 70B - Management Practice
70F - Public Administration & Government
96A - Domestic Commerce, Marketing, & Economics
Corporate Author Government Accountability Office, Washington, DC.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1403
Contract Number N/A

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