Wednesday, February 24, 2016

GSA Proposed Budget Seeks $1.5B for Real Estate Investments

The U.S. General Services Administration (GSA) released its 2017 Annual Budget Request, which includes $1.5 billion in investments to federal infrastructure and modernizing the federal government's most at-risk legacy IT systems. The GSA announced last month that the budget request would include $1.4 billion in Department of Justice and GSA funding for the FBI headquarters, but the newly released budget reveals more specific real estate investment plans. GSA's request includes:

— $759 million to support consolidation of FBI Headquarters function into a single, secure campus supporting the FBI's national security and law enforcement mission
— $267 million to deliver a new headquarters for the Federal Emergency Management Agency (FEMA)
— $248 million to support the second and final phase of the Calexico West Land Port of Entry modernization and improvement project
— $81 million for the renovation of the 985 Michigan Avenue Federal Office Building (aka Patrick V. McNamara Federal Building) in Detroit, MI

"The President's budget includes investments necessary to further strengthen our nation's real estate portfolio while promoting development in communities across the country," said GSA Administrator Roth. "GSA will also be able to more effectively bring federal IT systems into the 21st century. Once enacted, GSA will be positioned to better provide the services and solutions that allow the government to more effectively tackle our shared challenges."

To read the full Congressional Justification for the 2017 Annual Budget Request, click here. For more news and information visit Blumberg Partners.

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