Surplus Property:

GSA's Sale of the Cresap Coal Liquefaction Facility

GGD-86-3: Published: Oct 11, 1985. Publicly Released: Oct 11, 1985.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO reviewed the General Services Administration's (GSA) process in disposing of a coal liquefaction facility in Marshall County, West Virginia.

GAO found that: (1) GSA did not obtain community input when estimating the property's fair market value because it is GSA policy to contract for a commercial appraisal to determine fair market value; (2) GSA accepted a high bid because it was satisfied that the bid was close to the property's appraised market value; and (3) GSA did not believe it had any basis for not accepting the bid. GAO also found that: (1) state and local governments must be given an opportunity to acquire surplus real property before such property is offered for public sale; (2) GSA gave Marshall County the opportunity to acquire the facility before it offered the property for sale through a public auction; (3) GSA did not pursue negotiations with the county after the county rejected its offer; and (4) when initial attempts to sell surplus property to state and local governments are not successful, GSA must continue negotiating with the governments to obtain the highest price possible.

Sep 23, 2016

Sep 21, 2016

Sep 7, 2016

Aug 30, 2016

Aug 11, 2016

Jul 22, 2016

Jul 21, 2016

Jul 6, 2016

Looking for more? Browse all our products here