The city auditor says the city could make improvements in the handling of its leasable buildings, land and other real estate. In a report released today, an audit report identified several improvements such as computerized lease records, recommended the hiring of a new real estate manager, and the development of a business plan for the real estate office.
The audit concluded that while General Services leases some properties at below market rent, the city does not have a policy requiring evaluation of the social benefit provided by the by the rent subsidy, or public reporting of the value of the subsidies, according to a city press release. In addition, there is a market for leasing city-owned antenna sites to wireless communication providers; however, General Services’ staff does not have the technical expertise needed to evaluate the appropriateness of the sites, it said.
The audit also suggested other improvements such as changes in recording lease payment information and calculating annual rental rates and improving revenue collection.The audit includes recommendations to improve the efficiency and effectiveness of the lease program. Management agreed with the recommendations.
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