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President Obama’s Fiscal Year 2017 Budget Proposes Major Investments Including the Purchase of IRS Annex Building in Austin, Texas

AUSTIN, TEXAS — Today, U.S. General Services Administration (GSA) announced significant new investments that are a part of the President’s proposed fiscal year 2017 budget request. The proposed budget is focused on tackling our nation's greatest challenges by making smart investments in federal infrastructure in Austin, Texas, including the purchase of the Internal Revenue Service (IRS) Annex Building and improvements to the Austin Finance Center.

"GSA’s commitment to delivering the best value in real estate, acquisition, and technology services to government and the American people is supported by President Obama’s proposed fiscal year 2017 budget,” said GSA Regional Administrator Sylvia Hernandez. “By making investments to in our  nation’s real estate portfolio, GSA is able to provide our federal partners the facilities needed to best accomplish their mission while saving the American taxpayer money.”

The proposed FY 2017 budget includes:

  • The investment of $12.75 million for the acquisition of the IRS Annex Building. Purchasing the currently leased property will save the government $1.16 million a year in lease payments.
  • The investment of $22.78 million for improvements to the 46-year-old Austin Finance Center.  These improvements provide for the replacement of aging building systems that have reached the end of their useful lives with energy efficient systems that will result in cost savings to the government.  

The proposed budget reflects the administration’s commitment to smart and strategic investment in our nation’s infrastructure.  

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Last Reviewed 2016-02-10