Public-Private Partnerships: Pilot Program Needed to Demonstrate the Actual Benefits of Using Partnerships Page: 2 of 52
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Accountability * Integrity * Reliability
United States General Accounting Office
Washington, DC 20548
July 25, 2001
The Honorable Tom Davis
The Honorable John Duncan
The Honorable Stephen Horn
The Honorable Pete Sessions
The Honorable Jim Turner
House of Representatives
As stated in your October 18, 2000, request letter, each year the federal
government spends billions of dollars on maintaining its buildings, yet the
General Services Administration (GSA) has identified a multiyear need for
$4 billion, over and above these expenditures, to maintain its existing
inventory. To assist you in reviewing your legislative options in this area,
you asked us to identify the potential benefits to the federal government of
entering into public-private partnerships on real property, in which the
federal government contributes real property and a private entity
contributes financial capital and borrowing ability to redevelop or
renovate the real property. We also note some buildings that are in need of
action by GSA regardless of the applicability or availability of public-
On May 7, 2001, we briefed your offices on the results of our work.
Subsequent to this briefing, your offices asked that we also transmit the
results of our work to you in a report. This report summarizes the results
of our work. Appendix I contains the slides used to brief your offices,
including detailed information on the specific properties that were part of
our study. A glossary of terms that are used in this report begins on page
To identify the potential benefits of allowing federal agencies to enter into
public-private partnerships, we contracted with Ernst & Young LLP, who,
together with a subcontractor, Signet Partners, developed and analyzed
hypothetical partnership scenarios for seven selected GSA buildings.
These hypothetical partnership scenarios were developed especially for
this assignment and are based on information that was made readily
available by representatives of local real estate markets, city governments,
and GSA. GSA had previously contracted with AEW Capital Management,
L.P. (AEW) for a public-private partnership financial viability study for
three properties in Washington, D.C. We contracted with AEW to update
its work and included these three properties in our study. The properties
included in our study were judgmentally selected to include properties
GAO-01-906 Public-Private Partnerships
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United States. General Accounting Office. Public-Private Partnerships: Pilot Program Needed to Demonstrate the Actual Benefits of Using Partnerships, report, July 25, 2001; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc292885/m1/2/: accessed April 22, 2019), University of North Texas Libraries, Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.