Audit Report 14-06, Real Estate Division, Released

03/18/15
This notice is archived content and this information may no longer be accurate.
The Internal Audit Department released their audit report of the Real Estate Division.

The Economic Opportunity Department encompasses the Real Estate Division (Division) which acts as a central service organization, providing professional real estate services to City departments. The Division represents the City as owner, seller, buyer, landlord and tenant in real estate transactions. The scope of services provided spans the City’s real property needs in areas such as: right-of-way improvements, public utilities, parks and recreation, affordable housing, economic development, and office space. Further, excess property may be sold or leased by the Division at the request of City departments or the general public, provided that no other City department has a need for the property. Property that is sold or leased may require that the buyer or leaseholder provide a benefit to the City and its residents, such as constructing affordable housing or providing recreational services.