New Bill Aims to Make Fed Leasing More Responsive to the Market
A new bill is being introduced as roughly 100M SF of the GSA's leased property is set to expire in the next five years. The Public Buildings Reform and Savings Act of 2015 (H.R. 2322) would create a pilot program to reduce the amount of red tape on GSA leases that makes it harder for the agency to consolidate, reduce space and negotiate office deals. Rep. Lou Barletta (pictured), one of the bill's biggest champions, says the pilot program will streamline the leasing process so GSA can work through the expiring leases quicker, the Washington Business Journal reports. As it stands now, the federal government has to go through layers of approval before entering into a lease. H.R. 2322 could save the government (and taxpayers) a lot of money. The federal government spends $5.4B a year on leasing costs. [WBJ]
