OIG Advisory Regarding City’s Real Property Management

This advisory notes that the City actively tracks and markets unused property. It may also engage in narrow re-use or consolidation projects. However, the City does not periodically evaluate its full property portfolio to ensure that all City buildings and land are put to their best use. The advisory presents;

  • an example of one property used for free employee parking that might be a candidate for re-use or sale in a long-term management plan
  • frameworks for real property assessment including The Urban Institute Center on International Development and Governance’s Guidebook on Real Property Asset Management for Local Governments and The New York State Comptroller’s Local Government Management Guide for Capital Assets (2008)
  • brief information on the Chicago Infrastructure Trusts’s real asset management program called Reinvent Chicago