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Federal board proposed to speed sale of real estate

Mon, Mar 21st 2011 12:00 am
The White House proposed establishing an independent board that would provide Congress with a list of federal properties that should be sold or consolidated.

The entire list would be subject to an up-or-down vote, similar to the process now used for closing military bases. The White House contends this process would save taxpayers $15 billion by enabling the federal government to get rid of properties that no longer are needed.

The government has identified about 14,000 excess office buildings, warehouses and other facilities. Thousands of other structures are underutilized.

"With this new initiative, we can cut through the red tape and politics that prevented the federal government from getting rid of unneeded real estate for far too long," said Jeffrey Zients, deputy director of the Office of Management and Budget.

For more information, see www.whitehouse.gov/OMB