The Public Buildings Reform Board (PBRB) was established under P.L. 114-287, the Federal Assets Sale & Transfer Act of 2016 (FASTA), as an independent agency to identify opportunities for the Federal government to significantly reduce its inventory of civilian real property and thereby reduce costs.
Congress passed the Public Law 114-287 Federal Assets Sale and Transfer Act (FASTA) of 2016 with the purpose of reducing costs and increasing efficiencies in the Federal real property portfolio. Specific purposes of the legislation include:
- The creation of the bi-partisan Public Buildings Reform Board (PBRB) and the Asset Proceeds and Space Management Fund (APSMF);
- Maximizing the utilization rate of Federal buildings and facilities;
- Reducing the reliance on leased space;
- Selling or redeveloping high value assets that are under-utilized to obtain the highest and best value for the taxpayer and maximize the return to the taxpayer;
- Reducing the operating and maintenance costs of Federal civilian real properties;
- Creating incentives for Federal agencies to achieve greater efficiency in their inventories of civilian real property.
Questions, comments or recommendations? Reach out to the PBRB at email@example.com