Even Uncle Sam is Unloading More Real Estate

A government report put out last year showed the federal agencies pay more than $130 million dollars a year to maintain over 20,000 real properties that they don't use.  Some of the properties are vacant.

So with a new project included in the 2009 budget, the feds will try to sell some of this property through the creation of a “real property disposal pilot.”   Agencies that own the property would get to keep 20% of the proceeds of any sale, with 80% going into the public coffers of the Treasury.

According to the acting controller for the Office of Management and Budget, the properties are worth more than $17 billion.

But don' look to buy government castoffs here.  We don't have a map icon for the "nondescript building with secret underground bunker" property type on HotPads.  The best we can do is apartments for rent in Washington, D.C.

Comments

[Blue Ridge Mountain Land For Sale]

Hmmmm......first I have heard of this sounds interesting. Isn't it interesting that this goverment decided to wait till the next presidency to dump the property. So will we be buying the Love Canal type of properties or what? I need to hear more about this and look for future follow ups. Interesting post!