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RCED-84-49 1 (1983-10-14)

handle is hein.gao/gaobabneg0001 and id is 1 raw text is: UNITED ST4TES.,GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 RESOURNCES, COMMUNITY. ANO ECONOMIC DEVELOPMENT oIV,,,O N October 4, 1983 B-206023 Chairman, Subcommittee on Government 122845 Information, Justice, and Agriculture Committee on Government Operations House of Representatives Dear Mr. Chairman: Subject: New or Renovated Warehouse Space Provided Under Extended Storage Agreements,(GAO/RCED-84-49) In response to your August 3, 1983, request and subsequent discussions with your office, we obtained information on the Com- modity Credit Corporation's (CCC's) extended storage program, which is designed to provide long-term storage space for CCC com- modities at reasonable rates. You wanted to know whether the new or renovated warehouse storage space that CCC had contracted for was available. In addition to responding to your specific ques- tion, this report provides general background information on the extended storage agreement program. Our review of a statistically valid random sample of ware- houses showed that the warehouses are complying with their con- tracts to provide additional space either through new construction or renovation of existing space. PROGRAM DESCRIPTION CCC contracts with public warehouses for storing and handling commodities which it owns or which have been pledged as collateral for government loans. For grain, CCC enters into uniform grain storage agreements (UGSAs), which set forth the amount of storage space, contract terms, conditions, and storage rates for the grain. UGSA storage rates are subject to negotiation and gen- erally can be changed every year on July 1. The Department of Agriculture's Agricultural Marketing Serv- ice (AMS) is responsible for determining the qualifications of the UGSA warehouses and their operators and for protecting the govern- ment's interest in commodities stored in such warehouses. AMS does so through (1) initial examinations and investigations of the (022885)

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