Did you know that more than 30 federal agencies are wasting –at the very least–, $15 billion in unused real property assets worldwide? We don’t even know how big the number is because there is no definitive inventory of federally owned facilities and land, let alone an inventory of buildings and land that go unused. Taxpayers are losing billions each year as Congress keeps sending checks to pay holding costs for vacant buildings, instead of demanding that they be sold or demolished.
Location: the former Main Post Office in Chicago, 2.5 million square feet of unused property. Holding costs for this facility exceed $2 million annually, and it has been vacant since 1997. Why has it taken so long to sell the property?? This field hearing will explore the reasons why so many agencies do not efficiently or effectively maintain and manage their real property portfolios.
Location: Former Main Post Office, Chicago (433 West Van Buren Street)
And Cardiss Collins Post Office
Quad C Room 3087
433 W. Harrison Street
Director, Physical Infrastructure Issues
U.S. Government Accountability Office
Office of Portfolio Management, U.S. General Services Administration
Office of Acquisition and Enterprise Management, U.S. Department of Veterans Affairs
Facilities, United States Postal Service
Director, Installations Requirement and Management,
Office of the Secretary of Defense Installations and Environment, U.S. Department of Defense