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Air Force Real Property Agency and Enhanced Use Leasing. Mr. Bobby Roberts AFRPA. 18 October 2006. Overview. AFRPA Mission AFRPA Portfolio Real Estate Summary Enhanced Use Leasing Overview EUL Process EUL Projects AFRPA EUL Team Summary. AFRPA Mission.

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overview
Overview
  • AFRPA Mission
  • AFRPA Portfolio
  • Real Estate Summary
  • Enhanced Use Leasing Overview
  • EUL Process
  • EUL Projects
  • AFRPA EUL Team
  • Summary
afrpa mission
AFRPA Mission

Mission StatementAir Force Real Property Agency

To acquire, dispose, and manage all Air Force-controlled real property worldwide

Vision

To be the preeminent DoD real property manager

real property management transforming from the top
Real Property is the focus of numerous initiatives to improve financial performance of government

Requirements and regulations have converged

Focus on full accounting of assets

Clarified role of real property holdings in cost of implementing organizational missions

Success in real property asset management means

Examining business and mission requirements

Creating auditable cost and investment management strategies

Optimizing facilities and infrastructure portfolios

Real Property Management Transforming from the Top
afrpa s portfolio
AFRPA’s Portfolio

Legacy BRAC

  • 87,380 acres - 81% done
  • Dispose of property
  • Associated environmental programs

BRAC 2005

  • 2 major closures
  • Other assigned BRAC 2005 real estate actions
  • Dispose of property
  • Associated environmental programs

Real Estate: Conducting real estate actions for the Air Force

  • 166 active Air Force installations
  • Deeds, leases, easements and licenses
  • Enhanced Use Leasing
legacy brac real estate
Legacy BRACReal Estate

Disposal Methods

87,380 total acres

1,137 – 1%

Interim Lease

1,896 – 2%

Not in reuse

Public Benefit Conveyance

Federal Transfer Economic Development

Conveyance

Negotiated Sale

Public Sale Reversion

Special Legislation

Termination of Lease Conservation

31%

21%

29%

2%

2%

5%

3%

6%

New*

13,714 – 16%

Long Term

Lease

Deed/Transfer

81% Complete

54,000 jobs created

70,633 – 81%

slide7

BRAC Master Plan BMP In Action

Priorities

Executable Path Forward

Performance Based Contract (PBC)

slide8

BRAC Master Plan BRAC Master Plan Strategy

An Executable Path Forward –The BMP integrates BRAC property transfer authorities, private-sector real estate opportunities, and aggressive environmental remediation into one, executable road map.

The BRAC Master Plan Strategy:

  • Integrates installation plans into a comprehensive Air Force planning and programming strategy
  • Synchronizes property disposal and environmental programs
  • Provides an executable path forward
brac 2005
BRAC 2005
  • Fewer Installations than previous BRAC rounds
  • Air Force closures with disposal actions
    • Total Acres: 265
      • Air Force Research Lab Mesa City, AZ
      • Buckley Annex, CO
      • Four Lakes Communication Site, WA
      • General Mitchell Air Reserve Station, WI
      • Onizuka AFS, CA
  • 11 Major Realignments
  • Joint Use Decisions of BRAC

Smaller Scale, but still Challenging

active air force real estate
Active Air Force Real Estate
  • Even after BRAC 2005 Excess Capacity Remains
  • Enhanced Use Leasing
    • Potential for community economic growth
    • Reorganizing the real estate footprint
    • Saves money - Makes money
  • Value Based Transactions
    • Competitive sale results in range of risk management tools
    • Market forces establish best use and value of property
    • Multiple proposals allow AF to select “best value” deal

Market can drive value

executive order e o 13327
Executive Order (E.O.) 13327

“ It is the policy of the United States to promote the efficient and economical use of America’s real property assets and to assure management accountability for implementing Federal real property management reforms. Based on this policy, executive branch departments and agencies shall recognize the importance of real property resources through increased management attention, the establishment of clear goals and objectives, improved policies and levels of accountability, and other appropriate action.”

February 4, 2004

10 usc 2667 enhanced authority
Original Authority

Consideration in cash or in-kind

In-kind consideration limited to maintenance, protection, repair and restoration

In-kind consideration may be used only at installation where leased property is located

Only 50% of cash proceeds available for installation use, remainder to military department

Enhanced Authority

Consideration in cash or in-kind

In-kind consideration expanded to include:

Maintenance, protection, alteration, repair, improvement and restoration (including environmental restoration)

Construction of new facilities

Provision of facilities

Operation support

Other appropriate services

In-kind consideration may be used at any installation

Not less than 50% (and up to 100%) of cash proceeds available for installation use

10 USC 2667 Enhanced Authority
eul overview
EUL Overview

A lease of underutilized land, natural infrastructure, equipment and/or buildings for consideration equal to the assets’ fair market value

Authority: 10 USC 2667, Under PL 106-398, National Defense Authorization Act for FY2001

  • Corporate Program to support the Base and their Mission
  • Proceeds used to sustain, restore and modernize Air Force (AF) infrastructure
  • Primary categories of consideration:
    • Consideration may be cash or in-kind
    • In-kind consideration - may be allocated corporately
    • Cash consideration - a minimum of 50% of must be allocated to installation providing the asset
    • In-Kind consideration preferred

Unlocking & Returning the Value

enhanced use leasing asset management tool
“Enhanced Use Leasing”Asset Management Tool
  • Implements Federal policies requiring efficient, business-like management of Federal real property assets (Executive Order 13327 - Federal Real Property Management)
  • Powerful capability
    • Increases ability to respond to mission shifts and realignments (i.e. Base Realignment and Closure (BRAC))
    • Allows use of underutilized assets to support unfunded Air Force requirements
    • Provides greater flexibility in application of lease proceeds
eul use of proceeds
EUL: Use of Proceeds
  • Proceeds used to sustain, restore, and modernize Air Force (AF) infrastructure
  • Primary categories of consideration:
    • Construct new AF facilities
    • Alteration, repair, and restoration of AF-owned facilities
    • Address natural infrastructure needs
    • Pay for base operating support, e.g., supplies & services

Challenge: Apply corporate process & find incentives for installations to bring EUL’s forward for consideration

eul today
EUL Today

EUL Myths

  • Severable land
  • Consideration can only be used at host base
  • EUL’s are only “land deals”

EUL & Asset Management

  • Shrinking bases create EUL opportunities
    • Demolition
  • Growing bases create EUL opportunities
    • Construction
  • Natural infrastructure and Energy management EULs
  • Strategically leverage assets to maximize returns
eul timeline
EUL Timeline

LEAN

A7C Validates Use of In-Kind Consideration

ESG Murder Board SAF/IEI

OMB/Congressional Notification

Base & MAJCOM

A7C & CC Concur on Potential EUL

SAF/IEI

Signs Lease

AFRPA/DR & SAF/IEI

Updated through Weekly Staff Meetings

A7C Approves Use of In-Kind Consideration

PHASE II

Project Definition

Business Case Analysis

&

Developer Selection

DEAL TEAM

PHASE III

Project Acquisition

Negotiate Deal Terms Draft and Sign Lease

DEAL TEAM

PHASE I

Concept

Opportunity Study

AFRPA/COO-BL

5 Days

6 Months

6 Months

1st eul kirtland afb
1st EUL – Kirtland AFB
  • The Air Force signed its 1st EUL at Kirtland AFB with the New Mexico Institute of Mining and Technology on the 7th of January 2006
  • The Institute will utilize approximately 8 acres and will offer students' access to scientists working at Kirtland’s Air Force Research Lab
  • The new facility may become the centerpiece of a ~300 acre research and technology park that will serve the Air Force, the University and the Local Community
  • The park could provide as many as 15,000 jobs, and would foster both professional and educational relationships between students, academics and scientists at the Air Force lab
2 nd eul eglin energy eul
2nd EUL – Eglin Energy EUL
  • The Air Force signed its second EUL at Eglin AFB on the 3rd of October 2006
    • Okaloosa County will lease 225 acres at Eglin and construct a new wastewater treatment plant with 10 MGD capacity
    • The lease is structured to provide that the proceeds will be realized as “in-kind consideration” on Eglin AFB
    • The 30 year lease will commence upon construction of the plant
  • The lease will yield $325,000 (+ escalation), or NPV of ~$8.2M
  • This is a major win for the Air Force since the value-based enhanced use lease replaces a no-cost license which had been in effect since 1973
status of current eul projects
Status of Current EUL Projects

Acquisition (PHASE III)

    • Patrick, FL ~100 Acres - Deepwater port (lease expected 2/07)
    • Hill AFB, UT ~600 Acres - Mixed use development West Side Development (lease expected 4/07)
  • Project Definition (Phase II)
    • Kirtland (2), NM ~100 Acres - Technology Park
    • Andrews, MD ~64 Acres - TBD
    • Eglin (2), FL ~100 Acres - Technology Park
    • Lynn Haven, FL ~200 Acres – Mixed Use
  • Concept Approval (Phase I)
    • Hanscom - TBD
    • Energy - TBD

Pending Projects

  • Nellis
  • Travis
  • MacDill
  • Scott
  • Lackland
  • Beale
slide22

EUL Handbook is available at:

http://www.afrpa.hq.af.mil/enhanced_use_leasing/eul_handbook.shtml

afrpa eul team
AFRPA EUL Team

Paul Macpherson, AFRPA/EUL Chief

(703) 696-5246, DSN 426-5246

paul.macpherson@afrpa.pentagon.af.mil

Vincent Mokrzycki, AFRPA/EUL

(703) 696-5238, DSN 426-5238

vincent.mokrzycki@afrpa.pentagon.af.mil

James Lee, Contractor, AFRPA/EUL

(703) 696-5580, DSN 426-5580

lee_james@bah.com

slide25

Summary

  • Focus on Transformational Initiatives
    • Realize Equity Value for all Air Force Assets
    • Complete Legacy BRAC Mission
    • Execute BRAC 2005 Mission
    • Apply Innovative Approaches for Managing Air Force Installations

Air Force Vision: “Maximize the military value of infrastructure assets while optimizing ecological, economic, and community value”

  • All in support of the mission!
slide27

Value Based Transaction

Case Study: NIMA – St. Louis, MO

  • AF maximized value of contaminated property
  • GSA worked with AF “outside the box”
  • Third party to provide response actions
  • Regulators stepped away from federal facility approach

Bottom line: a “win win” for all parties