The PBS Southeast Sunbelt Region has aggressively negotiated exchanges of under-utilized Federal properties with city and county governments. In consideration, GSA receives land and/or buildings from cities, of substantially equal value, to meet the Federal government’s current needs. Cities receive expansion space often adjacent to their existing civic buildings. GSA is provided desirable land or buildings without additional taxpayer cash outlay. Tens of millions of dollars have already been saved via these creative property exchanges. Project examples can be found in Natchez, MS; Jacksonville, FL; Charleston, SC; Charlotte, NC.
In the Charlotte exchange, GSA was considering the purchase of a site for a new U.S. Courthouse. The confirmed appraised value of the desired site was $10 million. Ultimately, GSA acquired that land for zero dollars. GSA had an owned building, with a value of nearly $10 million that no longer met the needs of the Federal government. That building; however, was desired by the City. The City in turn was able to secure the very parcel of land GSA sought. As the properties were of like value, Federal law grants GSA the authority for both parties to exchange the properties at no cost. The exchange created a winning situation for GSA, its tenants, the City of Charlotte, and most importantly the taxpayer. GSA and the City received the real estate asset it needed in the zero cost exchange.
To receive the mutual benefit of the exchanges requires delicate negotiation, intensive research into the needs of the cities, educating many stakeholders to a new way of doing business, and building consensus with multiple parties with different agendas.
For additional information, please contact Mr. Tim Pfohl at 404-562-0665 or by email at tim.pfohl@gsa.gov.
