BUSINESS

Federal government trying to unload 14,000 excess properties

Comment
Decrease Increase Text size

The government is struggling to unload swaths of property that have outlasted its usefulness, Federal News Radio reports.

Most recently, a huge Georgetown power plant was sold off to a hotel chain for $19.5 million, but not before sitting vacant for nearly a decade. During that time, the government paid $3.5 million annually to maintain the building.

In total, the government is holding onto about 14,000 piece of land or property that it is trying to unload, Federal News Radio says, constituting more than 15 percent of the total property the government owns nationwide.

READ MORE at federalnewsradio.com.

Would you like to contribute to this story? Join the discussion.

Recommended For You
comments powered by Disqus