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B-114874 1 (1972-02-14)

handle is hein.gao/gaobaagpb0001 and id is 1 raw text is: D S5 oCOMPTROLLER GENERAL OF THE U IT ATE TWASHINGTON. D.C. ou FE 1 4 72 Your letter of December 1, 1971, requested that our Office analyze the material furnished to you by the P _Ut 2-- I Service regarding two proposals for obtaining a vehicle main- t ena e facility (VHF) in New York City-. The proposals concerned the question of whether the Postal Service should (1) construct for ownership a VMF on land owned by the Postal Service adjacent to the Morgan Postal Station (Morgan Annex site) or (2) negotiate to lease a sim- ilar VMF to be constructed by Sharp Development Corporation on land about 2 city blocks from the Morgan Annex site. Postal Service representatives informed us that their cost analysis was prepared in 1 day at the request of the Ser- vice's Board of Governors. Therefore the data was prelimi- nary and items of estimated Government ownership costs were not supported by adequate detailed information. A representative of the Sharp organization told us that, after its lease proposal was made about a year earlier, con- struction costs had risen sharply; therefore such increased costs would have to be considered in any formal agreement made with the Postal Service. Your office agreed that, because of the lack of support- ing data for the Postal Service cost estimates and the time constraints for reporting to you, the information furnished by the Postal Service need not be verified. On the basis of available data, our comparative cost analysis shows that it would be more economical for the Postal Service to construct for ownership a VMF on the Morgan Annex site. In our analysis, we have stated costs in terms of the current purchasing power of the dollar and we have discounted future costs and receipts to state them in terms of their present value. In contrast, the costs shown by the Postal Service are actual dollar flows expected over a 20-year period. S DOCU X iAVAILABLE

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