GSA has not systematically prioritized which high value leases would be most beneficial to exchange for owned solutions, according to the report.
It said the agency has not incorporated space needs that are the highest priority for ownership investment into a long-term capital plan, and that overreliance on costly leasing is one reason that federal real property has remained on GAO’s high-risk list.
GSA reportedly agreed to enhance the transparency of decision making for high-value leases by including more information in the prospectus to Congress, such as the agency’s prior and future need for the space, major investments needed, and an appropriate analysis of the cost of leasing versus the cost of ownership.
GSA also agreed to report to congressional committees about certain leases without a prospectus, as well as prioritizing potential ownership solutions for current high-value leases to help create a long-term strategy for targeted ownership investments.
