Real Property Dispositions:

Flexibility Afforded Agencies to Meet Disposition Objectives Varies

GGD-92-144FS: Published: Sep 18, 1992. Publicly Released: Sep 18, 1992.

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Pursuant to a congressional request, GAO provided information on federal government asset disposition, focusing on: (1) disposition objectives; (2) legislative mandates; and (3) policy requirements that affect real property dispositions.

GAO found that: (1) agencies that have the authority to dispose of real property also have the task of disposing of the properties quickly and at the highest price; (2) agencies do not have authority to operate at will in meeting their disposition objectives; (3) each agency operates under a set of programmatic requirements, and the requirements vary considerably by agency; (4) the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC) dispose of assets of failing and failed financial institutions as either conservator or receiver; (5) 11 agencies reported having requirements to aid the homeless; (6) 5 agencies reported having requirements designed to make housing affordable for very low-, low, and low moderate-income families; (7) RTC and FDIC were the only two agencies that indicated they were not required to take specific steps to ensure protection of historic places and properties; (8) all 17 disposing agencies reported being covered by at least one environmental law, program, or executive order that impacted real property dispositions; and (9) agencies viewed requirements as either having no effect on or detracting from asset responsibilities.

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