The Asset Management section of Real Property Administration focuses on planning for major real estate activities and initiatives.
Planning for construction projects generally follows several phases, beginning with long range planning, which concentrates on the conceptual development of a new facility. The process continues successively through master planning, pre-design, site feasibility and infrastructure analysis. With State Building Commission approval, final design and subsequent construction can then commence.
Asset Management also produces state-wide and regional housing plans, information papers, and other briefing documents, upon which many of RPA's critical decisions are based. Other services include the analysis of real estate issues, review of key real estate appraisals, and the detailed analysis of agency space needs.
Asset Management plays a major role in administration of the Facilities Revolving Fund, from which the operation of most state-owned and leased office facilities is financed. Expenditures from FRF include rent payments to landlords, utility payments, debt service and building maintenance. Revenues to FRF include annual legislative appropriations and monthly payments by agencies that occupy the space. Asset Management maintains an inventory of leased and state-owned space, which forms the basis for agency billing.
This section also manages the division website.