This bill requires the General Services Administration (GSA) to publish a recommended list of public building projects for which public-private partnerships and alternative financing methods should be used.
Under the bill, GSA must hold consultation meetings to identify alternative financing solutions for the construction, renovation, or preparation for disposal of public buildings that will reduce costs to the federal government. Such meetings must include experts in private commercial real estate and federal real estate. If available, state real estate experts with experience leveraging private financing for public buildings and facilities must also be included.
GSA must submit to the President and Congress, and publish on its website (1) recommendations on types of public-private partnerships and alternative financing methods best suited for meeting the federal government's public building needs, and (2) a list of recommended projects for which such methods should be used.
Projects included on the recommended projects list must meet certain criteria, including consolidating or relocating federal agencies out of costly, inefficient, and underutilized spaces that GSA intends to sell or dispose of once vacated.