Feasibility Study Phase
After developing cost estimates, the team must perform a financial analysis for each
alternative. In general, GSA's financial analysis requires a pro forma and a 30-year
present value analysis for each alternative (e.g., The Automated Prospectus System,
or TAPS, analysis) and an Asset Business Plan (ABP) for each affected GSA property.
The Planning Call outlines the specific analyses needed to satisfy the Capital Program.
Meaningful analysis requires sound inputs. For various projects, these may include
market appraisals of GSA assets, agency rent computations, defined TIs, and market
surveys of appropriate sites and acquisition costs. Generally, the Feasibility Study
contractor (or GSA staff, with the assistance of appropriate professionals) should
develop the cost inputs for each alternative.
Recommended Activities
Knowledge of
Analyze project and technical requirements.
Existing Conditions
Define Scope of Customer Needs:
The Feasibility Study uses
Compare each alternative's ability to meet customer needs. These requirements
knowledge of existing
may be defined in U.S. Courts' Any Court model, Local Portfolio Plans (LPPs),
conditions to frame future
Border Wizard simulation model, or a macro-level program of requirements.
requirements and budgets.
Describe Tenant's Move/Lease Actions:
The size and shape of the
windows, presence of
Provide an analysis of project-related move costs and impacts on the customer
radiators, location of stand-
agency's operation as a result of the temporary relocation of tenants,
pipes and potential location
leasing of swing space, phased moves within a building, and final move-ins.
of the dropped ceiling reflect
Assess Site Issues:
a working knowledge of
Analyze both new construction and renovation alternatives. Consider the
current conditions and inform
the assumptions used to
impact that siting would have on the project. Considerations include
develop cost estimates in
customer needs, local market conditions, and community impacts, as well as
the Feasibility Study.
compliance with the National Environmental Policy Act (NEPA), GSA's
Location Policy (such as E.O. 12072 and E.O. 13006), and other regulations.
Sharing Information
For a new construction project, refer to the Site Selection Guide. Remember
Be ready to provide copies
that the selection of the delineated area impacts the following factors:
of reports, information, and
The potential relationship of the project to the local community.
customer agency contacts
The potential to support other local and federal planning initiatives.
to your contractor.
The cost of site acquisition.
The cost of construction, based on the site's characteristics.
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