New Bill Could Release Millions Of Dollars Of Excess Real Estate To The Market
Congressman Jeff Denham, R-CA, has introduced a bill that would force the federal government to sell off some vacant or underutilized properties, potentially releasing millions of SF into the market.
Denham’s Federal Asset Sale and Transfer Act of 2016 shares its name with a similar bill introduced in the Senate by Mark Warner, D-VA, the Washington Business Journal reports.
While similar proposals have fizzled in the past, the bipartisan and bicameral support for the current bill means it could succeed where others have failed. “My bill will save us billions by cutting through the red tape to change the poorly managed property management system,” Denham says.
Denham’s bill would also require the General Services Administration to create and publish a centralized database of all federal real estate. This would fix the slew of problems caused by the current system, where several government agencies maintain separate databases. [WBJ]
