Two IRES federal government projects among important initiatives cited in recent white paper on Federal Budgetary Scorekeeping
IRES and its joint venture partner, Knighthorse, provided substantial strategic and financial advisory services on two of the more high-profile federal government initiatives within the past several years. First, IRES/Knighthorse was the exclusive program and financial advisor to the Department of the Army from 2002 to 2008. Under multiple contracts, IRES/Knighthorse developed and implemented the Korea Build-to-Lease program to acquire military housing in Korea utilizing a customized BTL structure. Second, IRES/Knighthorse teamed to provide financial advisory services to GSA in connection with the development of the new 1.35 million square foot Department of Transportation Headquarters in Washington D.C. The building was completed and occupied in 2007.
Not surprisingly, DA and GSA encountered significant budget scoring issues relative to both of these important initiatives and IRES supported both agencies in addressing such issues from a compliance perspective. Perhaps underscoring their importance, these two initiatives are discussed in detail in the attached white paper (see pages 14-16) entitled, “The Crisis in the Federal Government’s Infrastructure, Federal Budgetary Scorekeeping: Impediments, Alternatives and Opportunities” as emblematic of recent challenges faced with respect to budgetary scoring and the use of leases and private sector financing. This white paper was prepared by the Privatization, Outsourcing and Financing Transactions Committee of the ABA Public Contract Law Section, and it is helpful in explaining the federal budgetary scorekeeping rules, the public and private sectors’ views of these rules, and discusses potential legislative and regulatory alternatives that may enhance the Federal Government’s ability to efficiently and cost-effectively fund important infrastructure and other capital-intensive projects.
Click here to download the PDF and read the full white paper.
For more information about this case study, please contact:
Darrin Kennedy
IRES Managing Director
865 S. Figueroa St., Suite 3500
Los Angeles, CA 90017
213.861.3323
darrin.kennedy@colliers.com
Joseph Faccone
Knighthorse President
3 Bethesda Metro Center
Bethesda, MD 20814
202.412.2535
jf@knighthorse.net
Tags: Budget, Budgetary, colliers, Federal, integrated real estate solutions, ires, Knighthorse, Paper, White
View all News & Updates | Return to Colliers IRES Homepage