This bill directs the Administrator of General Services (GSA) to hold consultation meetings within 90 days to identify alternative financing options for constructing, renovating, or preparing public buildings for disposal. The meetings must include private commercial real estate experts, federal real estate experts, and, if available, state real estate experts. Within 120 days GSA must report to the President with recommended types of public-private partnerships and alternative financing methods and a list of recommended projects with the suggested financing approach for each.
The bill requires the report to be shared with specific Congressional committees and posted on the GSA website. GSA must keep timelines and milestones on its website and report delays to the President and Congress. Meetings must be noticed and open to the public and are not subject to chapter 10 of title 5, United States Code. The President may direct GSA to proceed with recommended projects, subject to future appropriations and existing prospectus rules. Approved projects must follow section 3307 of title 40, U.S. Code, with prospectuses sent to the named committees within 30 days of Presidential approval. Any alternative financing or public-private partnership must include terms that ensure accountability and performance. The bill states it does not give GSA any new legal authorities beyond those already existing.
The bill defines alternate financing and public-private partnership to include agreements where a non-Federal entity may design, build, finance, operate, and maintain an asset, or a ground lease with a lease-back of improvements. It also directs recommended projects to: serve core federal missions, lead to consolidations or relocations out of costly or underused space intended for sale or disposal, and for standard office space achieve a minimum building utilization of 60 percent as defined in the cited statute.
No publicly available information.
The bill directs GSA to find alternative financing solutions that the text states will reduce costs to the Federal Government. Provisions in the bill emphasize using partnerships and other financing methods for projects that support core missions, that allow consolidation or relocation out of costly or underutilized space intended for disposal, and that, for standard office space, meet a minimum building utilization of 60 percent. The bill also requires public reporting and transparency about the process.
No publicly available information.