NFDA is a national association of private property owners and service providers who lease or provide services to government tenants.
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Special Announcement For NFDA members tracking VA leasing developments, July 23 was a watershed day. The House Veteran's Affairs Committee acted to reauthorize. So, at long last, the 18 PACT Act leases and nine FY25 Leases have been cleared for award. Prospectus-level VA Lease Acquisitions require authorization by four congressional committees: the two GSA oversight committees, and VA's own oversight committees in both House and Senate. While all necessary committee authorizations had already been secured for the 18 PACT Act Prospectus-level and/or major lease projects, as well as 9 additional FY 25 lease projects, the VA found, when attempting to execute leases for these projects, that the rental rates were not adequate to enable the projects to proceed. Reauthorization, at higher rental rates, was necessary. Three of the four committees had already re-authorized these projects. Next steps? Read more
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