Home / Civilian / OMB Official: WH More Than Halfway To $8B Real Estate Savings Goal

OMB Official: WH More Than Halfway To $8B Real Estate Savings Goal

Site: Whitehouse.gov

The White House is on its way in reaching its $8 billion target for 2012 in real estate savings, according to its Friday announcement.

Danny Werfel, controller at the Office of Management and Budget, reported that the government sold and saved over $5.5 billion in the first quarter of fiscal 2012.

President Obama’s real estate directive called for $5 billion in savings through the Base Realignment and Closure Commission and $3 billion in non-BRAC savings.

Werfel wrote that the government has achieved $3.25 billion in BRAC savings and $2.4 in non-BRAC savings.

Some of the savings came from the $1.68 million sale of a General Services Administration facility in Alaska and the $750,000 sale of the Moscow, Maine Radar Site, he added.

The government also expects $194 million in savings from the closing of offices from the Internal Revenue Services, the Department of Agriculture and the Office of Managment and Budget.

Werfel added that if the Congress passes the Civilian Property Realignment Act, it will support the ongoing efforts of federal agencies in saving money.

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