News
OMB Makes Agencies Cut Back on Real Estate Footprints
March 27, 2015
A 2013 mandate requiring federal agencies to freeze their real estate footprints is being taken a step further. They're now expected to reduce it to cut the cost of unused or under-used space. Agencies shrunk by 21.4M SF between fiscal years 2012 and 2014, and 2014 alone saw a $17M reduction in annual operating costs using this strategy, reports the Federal Times. The White House is requiring agencies to set annual goals for reducing real estate and adopting space-saving designs. Meanwhile, OMB is working with the GSA (pictured) to develop new decision-making tools that will provide information on annual cost, location, property size and lease expiration. [FedTimes]
