January 8, 2025 The Biden Administration Approves the Extension of the PBRB to Continue its Vital Work of Seeking Federal Real Estate Portfolio Optimization
S. 4367, the Thomas R. Carper Water Resources Development Act of 2024 was signed into law
on Saturday January 4, 2025, and includes a key provision that will extend the work of the
Public Buildings Reform Board until December 2026. The House and Senate have also
included provisions in the legislation that set occupancy standards for Federal office space
directing the sale of under-utilized space. The bill also calls for a review by the Government
Accountability Office of General Services Administration’s Public Buildings Service which
oversees the bulk of the Federal civilian real property portfolio. Finally, the bill calls for greater
transparency on public buildings project cost overruns and leases, along with the effect of crime
on Federal building usage.
The PBRB will continue to work diligently to identify underused Federal buildings that would
better be returned to private ownership, thereby reducing the cost of operations and
maintenance and capital liabilities to the American taxpayer. The PBRB will present its list of
recommended dispositions to the Office of Management and Budget, as required by law, and is
looking forward to working with Federal agencies to identify potential dispositions from their
portfolios.