While state and local governments have been at the forefront in the fight against COVID-19, it has created new financial pressures. Ensuring the health and well-being of employees and constituents is a continuing priority, however reducing costs is also crucial for continuing essential programs.
Budget cuts are likely inevitable for many government entities, but that doesn’t have to impact constituent services. It’s possible to operate more efficiently while supporting your organization’s mission and culture. As a government leader, there are many levers you can pull to improve cash flows, whether you want to reduce expenses today, create long-term savings through more efficient real estate management, or leverage your assets to generate additional revenue.
Our comprehensive guidebook, 10 ways for government leaders to boost the bottom line through real estate gives you numerous options to help you reduce your costs, recapture revenue and maintain constituent services, including:
- Analyzing your real estate portfolio to uncover hidden costs
- Reducing excess space
- Reducing leasing costs
- “Mothballing” buildings that are temporarily underutilized or unoccupied
- Leveraging your property data to uncover space utilization and occupancy planning opportunities
- Leveraging variable capital project management
- Reducing facility management costs through outsourcing
- Leveraging public-private partnerships (P3s) to fund infrastructure
- Monetizing your real estate assets
- Revitalizing underutilized land through ground leases
If you’re ready to reduce costs and recapture revenue for your governmental organization, click here to discuss a potential cost savings assessment.
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