Federal Real Property

" The federal government owns underutilized properties that are costly to operate, yet challenges exist to closing and disposing of them. To obtain value from these properties, some agencies have used EULs, which are generally long-term agreements to lease property from the federal government in exchange for cash or non-cash consideration. However, agencies also incur costs for EUL programs. We have previously reported that agencies should include all costs associated with programs' activities when assessing their values. This report addresses (1) the extent to which agencies attribute the full benefits and costs of their EULs in their assessments of their EUL programs and (2) the experiences of agencies in using their EUL authority. GAO reviewed property data and documents from the largest civilian federal real property agencies including four agencies that use EULs-VA, NASA, the Department of State, and the Department of Agriculture-and applicable laws, and regulations and guidance. GAO visited nine sites where agencies were using EULs. "