Obama to put government property up for sale

AP News
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Posted: Mar 02, 2011 8:43 AM
Obama to put government property up for sale

President Barack Obama is putting government property up for sale to help save taxpayers billions of dollars.

An administration official says Obama will propose the creation of an independent board of private and public sector leaders Wednesday to review real estate owned by the federal government that could be sold or consolidated.

The administration says at least 14,000 structures are no longer needed and thousands more aren't fully used. The official says the board would send its recommendations to Congress for approval and could deliver $15 billion in savings within its first three years in operation.

The official agreed to speak before Obama's announcement only on condition of anonymity.