Federal Buildings: Comparison of Oakland and San Francisco Alternatives

摘要

Since 1975, the General Services Administration (GSA) has sought congressional authorization and funding for a new federal building in the San Francisco Bay area to reduce its increasing lease costs. In January 1986, Congress appropriated $8.1 million for the design of a building to be located in Oakland, California, on a parcel of land donated by the city. The city will finance the building under a municipal leaseback arrangement through the sale of taxable municipal bonds. GSA will lease the building for 30 years and acquire the property for a nominal sum at the end of the lease period. Based on information currently available to compare the two buildings, the author believes GSA made a reasonable decision in proceeding with the new federal office building in Oakland.