Lots of property worth lots of money going up for sale…I wonder what department of the government is going to get all the proceeds? Hopefully it’ll be shared out between states to upgrade their voting systems to a 21st century secure system.
A portion of the money will go to the agency in charge or last used the buildings with the rest to the general fund.
The federal agencies that own the properties are incentivized to sell its real estate because they become eligible to receive some profits from the sale of a property after six years. The property sale is administered by the GSA and money earned from the sale will go into the U.S. Treasury’s General Fund.
So no funds will be going to the state’s the buildings are in. In theory the states/local counties/cities will get a little extra property tax (and possibly income tax) as the result of the buildings no longer sitting empty or partially used and now on the tax rolls again.
I fully support this and it shouldn’t take years to get the buildings/property on the market.