Bimla Rhinehart

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• Bimla Rhinehart
• Real Property Portfolio Management

2
What You Should Know In 10 Minutes

• Whats done.
• Why its done.
• Who does it.
• How its done.

3
What Is Done

• Comprehensive review of real estate assets
  acquired for project or program delivery.
• Disposal of real property surplus to Department
  needs.

4
Why Its Done

• Statute
• Executive Order
• Department Directive
• Sound business practice
• Self preservation

5
Who Does It

• Senior managers of highest level/grouping of
  delegated administrative authority.
• Review teams comprised of function-specific
  senior subordinates.
• Process outcomes supported by function
  responsible for surplus property disposal.

6
Hows It Done?

• Make it mandated by the Director/Secretary.
• Prepare property inventory.
• Compare to long-term project/program needs.
• Assume disposal for surplus.
• Create a parcel-specific disposal plan.
• Regularly review milestone achievement.

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Current parcel-specific disposal plan
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Results

• Disposal plan from July 1,2006 through December
  31, 2008
• Parcels Disposed 1,150
• Revenue returned to state 131 Million

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But wait, theres more

• An aggressive property leasing program
• Currently we have
• 1,216 Property Leases generating 12.9 Million
  per year
• 628 Airspace/Wireless Leases generating
  23.1 Million per year