The handling and storage of under-utilised, surplus or redundant assets takes time and costs money.
“The State Department alone faces an estimated $736 million in repairs for deteriorating buildings. The situation has led the GAO to include vacant, underutilized and deteriorating Federal real property to its high risk list. GAO finds that the magnitude of this problem puts the Government at significant risk for lost revenues and opportunities. Specifically, GAO points to the fact that under-utilized or excess property is costly to maintain. The Department of Defense spends between $3-$4 billion annually just for maintenance of unneeded facilities. Also, GAO finds that excess government buildings and land can be put to more effective uses, exchanged for more useful property, or even sold. Clearly, these findings should concern every American taxpayer. Every Member of Congress can likely identify at least one Federal property site in his or her district that is either vacant or deteriorating and in need of revitalization.”
Excerpt taken from the hearing before the Committee on Government Reform, House of Representatives, One Hundred Eighth Congress of the United States of America.
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