Federal Real Property: Current Efforts, GAO Recommendations, and Proposed Legislation Could Address Challenges, Statement of Dave Wise, Director, Physical Infrastructure Issues, Testimony Committee on Homeland Security and Governmental Affairs, U.S. Senate [open pdf - 277KB]
From the Highlights: "The federal government's real property holdings are vast and diverse, costing billions of dollars annually to operate and maintain. GAO [Government Accountability Office] added federal real property management to its High-Risk List in 2003 because the government retained more property than it needed, relied on leasing in cases where ownership would cost less, and lacked reliable real property data to support decision making. Since then, the government has given high-level attention to the issue, including establishing Federal Real Property Profile (FRPP) to track federal buildings and structures government-wide. Despite these efforts, federal agencies continue to face challenges in managing federal real property. This statement focuses on (1) improvements and challenges in federal real property management; and (2) executive and legislative steps that could help address challenges."
Government Accountability Office: http://www.gao.gov/