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Diane Publishing Books
Federal Real Property: Greater Transparency and Strategic Focus Needed for High-Value GSA Leases
David J. Wise (au)
Overreliance on costly leasing is one reason that federal real property has remained on GAOäó»s high-risk list. GAOäó»s work has shown that building ownership often costs less than leasing, especially for long-term space needs. The General Services Admin. (GSA) manages real property for many civilian federal agencies, and has a large portfolio of owned and leased properties that it rents to its federal agency customers. For leases with a net annual rent above a threshold -- $2.79 million in FY 2012 -- GSA is required to submit a prospectus, or proposal, to Congress. This report reviewed these high-value leases. It (1) identifies their characteristics and what GSA has done to reduce their cost; and (2) assesses the extent to which GSAäó»s capital-planning approach supports informed leasing decisions. Table and figures. This is a print on demand report.
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