1、1 This report was originally written by Stephanie Smith, who has retired from CRS. The currentlylisted author revised and updated the report to reflect the prospectus thresholds for 2009.Order Code RS22287Updated August 20, 2008General Services Administration Prospectus Thresholds for Owned and Leas
2、ed Federal FacilitiesClay H. WellbornSpecialist in American National GovernmentGovernment and Finance DivisionSummaryThe General Services Administration (GSA) oversees GSA owned and leasedfederal buildings and courthouses.1 As part of the authorization process for newconstruction or leasing proposal
3、s, GSA is required to submit for approval a prospectuscontaining project and cost specifications to the Office of Management and Budget(OMB) and to House and Senate committees. Funding for authorized real propertyprojects is normally provided through annual appropriations acts. Relatively smallproje
4、cts, however, do not require prospectus approval. Prospectus approval is requiredfor new construction or leases in FY2009 only if the proposals are valued at more than$2.66 million; for projects involving the alteration of leased space, the threshold valueis $1.33 million. Thresholds change annually
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