The Resource NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange

NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange

Label
NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange
Title
NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange
Contributor
Subject
Language
eng
Summary
Settling 30 years of sometimes acrimonious dispute, in March 2000 the Department of the Interior's National Park Service and a private developer 1 completed an exchange of land interests on two vacant parcels of land in Potomac Yard, an approximately 380-acre former rail yard adjacent to the Park Service's George Washington Memorial Parkway near Washington, D.C. Although the developer owned both parcels, the Park Service also had an interest in them. On one parcel referred to as the Alexandria parcel the Park Service held a commitment from the developer to build an interchange on the Parkway; on the other parcel referred to as the Arlington parcel it held a development restriction known as an indenture. In the exchange, the Park Service allowed the developer to buy out its interchange commitment, lifted the indenture on the Arlington parcel, and acquired specific development restrictions on both parcels to protect the Parkway's scenic qualities. To estimate the fair market values of the interests being exchanged, the developer contracted with a private appraisal firm to prepare two appraisals (one for each parcel), which the Park Service reviewed and approved as conforming to federal appraisal standards. The appraisals reported that on balance the Park Service owed the developer $14 million. This represented the difference between the estimated value of potential development opportunities the developer gave up under the Park Service 's restrictions (totaling $29 million) and the estimated values of the indenture and interchange (totaling $15 million) given up by the Park Service. The developer waived the difference of $14 million
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
GENERAL ACCOUNTING OFFICE WASHINGTON DC
http://library.link/vocab/subjectName
  • Commerce
  • Management planning and control
  • Potomac river
  • United states government
  • Market research
  • Marketing
  • Estimates
  • Standards
  • Exchange
  • Land areas
  • Auditing
  • Administration and Management
  • Geography
Label
NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
28 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227953444
  • (OCoLC)ocn227953444
Label
NATIONAL PARK SERVICE: Federal Taxpayers Could Have Benefited More From Potomac Yard Land Exchange
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
28 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227953444
  • (OCoLC)ocn227953444

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