GAO Knocks Federal Property Management, Calls For Fix

Law360, New York (June 20, 2012, 4:33 PM EDT) -- The U.S. Government Accountability Office released a report Wednesday blasting the federal government — the country's largest holder of real estate — for its property practices and calling for a national strategy to better document and manage these assets.

Following an investigation of the Federal Real Property Council, GAO researchers said they found rampant misrepresentations about the state of federal property in the council's database, which is known as the Federal Real Property Profile, or FRPP. The GAO said the inaccuracies could be costing the government...
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