Surplus property refers to real property that no longer meets the needs of federal agencies, whether due to excess, obsolescence, or changes in mission requirements. This status of property is not declared arbitrarily but is a result of a comprehensive analysis by the appropriate federal entities. Once declared as surplus, these properties take on a new potential to be beneficially repurposed, thus extending their life and service to the community.
GSA, or General Services Administration, plays a fundamental role in determining the highest and best use of these surplus properties. This can range from public benefit conveyances, including use for homeless services, to negotiated sales, or even public auctions. GSA’s determination process ensures that these federal resources are used in a manner that benefits the public interest as much as possible. The surplus property’s repurposing is done within the framework of the federal property management regulations, aiming for transparency, fairness, and maximum value recovery.
