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B-159104 1 (1970-11-20)

handle is hein.gao/gaobabkqu0001 and id is 1 raw text is: EYthe aglc voUM3,are~ 1%VhS uh C MPTROLLER GENERAL OF THE UNITED STATES U WASHINGTON, D.C. 20S48 B- 159104 € . ., Dear Senator Spong. A M8Soa-M~ P g -. , LM089800 In accordance with your reque t dated March 17, 1970, we have examined into a proposed exchang between the Department of1 theT terior and Mr. Charles Fairchild and the Richmond, Fredericksburg, and Potomac Railroad Company. This proposed exchange provides for granting access rights to the George Washington Memorial Parkway for a proposed development by Mr. Fairchild. The development is referred to as the Potomac Center and is located near the Washington National Airport. Access would be gained to and from the Parkway via a bridge which would be constructed by Mr. Fairchild or the Richmond, Freder- icksburg, and Potomac Railroad Company, at no expense to the Govern- ment. Approximately 1.3 acres of federally owned land would be made available for the necessary connecting ramps. In return for granting access to the Parkway, the Government would receive title to about 28.8 acres of land owned by Mr. Fairchild at Dyke Marsh, which is about 1- 1/2 miles south of the Woodrow Wilson Bridge. The exchange agreement provides that the vehicular bridge to be constructed across the Parkway could be utilized by the Park Ser- vice to provide better access to existing recreation facilities on Daingerfield Island. (See map on p. 18 of encl. I.) In a June 12, 1970, meeting with members of your staff, we agreed to furnish you with information concerning the derivation of the value of each item involved in the proposed exchange. It was agreed that, be- cause factors which could have a significant effect on the value of cer- tain of the items involved in the proposed exchange had not been fully resolved and because of a lack of adequate documentation supporting the determination of certain values, we would not offer any conclusions on the reasonableness of the values involved in the exchange. The matters considered in our review are discussed in detail in enclosure I. Our comments on the items that appeared to be of most interest to you are summarized below. The exchange agreement, in essence the same as the draft agree- ment transmitted to the House and Senate Committees on Interior and

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