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GGD-96-67R 1 (1996-02-01)

handle is hein.gao/gaobaclbh0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 General Government Division B-260119.2 February 1, 1996 The Honorable James A. Leach Chairman The Honorable Henry B. Gonzalez Ranking Minority Member Committee on Banking and Financial Services House of Representatives As required by the Resolution Trust Corporation (RTC) Completion Act,' we examined the feasibility of setting up a single federal agency to sell and otherwise dispose of the real property owned or held by the Department of Housing and Urban Development (HUD), the Farmers Home Administration (FmHA) of the Department of Agriculture (USDA),2 the Federal Deposit Insurance Corporation (FDIC), and RTC.3 We identified some of the impediments that would need to be addressed by Congress, as well as by any federal entities involved in any such consolidation. These impediments include (1) conflicting legislative requirements, (2) differing practices and procedures, and (3) lack of support for making changes. We also identified some ongoing efforts to improve cooperation and coordination between federal entities disposing of 'The Resolution Trust Corporation Completion Act, P.L. 103-204, 107 Stat 2369, 2409-2410 (1993). 2The Federal Crop Insurance Reform and Department of Agriculture Reorganization Act of 1994, P.L. 103-354, 108 Stat 3218, 3209-3238 (1994), reorganized USDA. Under this reorganization, FmHA was abolished and the Consolidated Farm Services Agency and the Rural Housing and Community Development Services within USDA now have responsibility for farm properties and housing dispositions, respectively. 3 As required by the RTC Completion Act, RTC ceased operations on December 31, 1995. Its asset disposition functions were transferred to FDIC but continue to operate under RTC procedures as a separate unit within FDIC. GAO/GGD-96-67R Government Property Disposition

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