$8 Billion in Federal Real Property Up for Consideration
Last week, the President signed into law the AGC-supported Federal Assets Sale and Transfer Act. This bipartisan law will shrink the federal footprint and streamline the disposal of excess or underutilized federal buildings. AGC has long been involved in pushing for federal real property reform and strongly supports these efforts.
The disposal of unneeded federal real property could allow for millions and potentially billions of dollars in private and federal construction work throughout the nation, as excess federal buildings exist in every state. According to the most recent Federal Real Property Summary, the government owns more than 254,000 buildings, comprising 2.5 billion square feet of space, costing the taxpayer $14.4 billion annually. Recent estimates show 77,000 buildings are underutilized, costing $1.7 billion annually.
For more information, contact Jordan Howard at Jordan.email@example.com or 703-837-5325.