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GGD-81-14 1 (1980-10-17)

handle is hein.gao/gaobabbei0001 and id is 1 raw text is: RESTIC~~) - VNot tn lie. rsA~-%--1~~ Account tg Ce~ pt: rI U1 I,%7l of spev'.. by t1iip-- UTN OFFICE WASHINGTON, D.C. 20548 GNALGOVERNMEN EESEfcoer1,18 DIVISIONRELEASED o~w,,oNOctober 17, 1980 0-200864 The Honorable John G. Tower United States Senate 113657 Dear Senator Tower: Subject: cquisition of Land for Postal Facility in Tyler, Texas] (GGD-81-14) In accordance with your request of April 7, 1980, we investigated Mr. E. B. Yale's allegation that the U. S. Postal Service paid at least three times the market value for the land it acquired in January 1980 for a new postal facility in Tyler, Texas. In addition, while it was not specifically part of your request, we inquired into the Postal Service's rationale for selecting the site on M. L. King, Jr. Boulevard rather than less costly land offered to the Service. As part of our review, we interviewed Mr. Yale and the Service officials responsible for selecting, apprais- ing, and purchasing this land. We also contacted various independent appraisers and realtors in the Tyler area, in- cluding the appraiser of the acquired site, and reviewed Service policies and procedures for selecting, appraising, and purchasing real property. While we found some evidence that the price paid for the land may have been high, a Service analysis as well as an independent appraisal valued the land at approximately the price paid. We do, however, question the Service's basis for increasing the value of the selected site above the valuation assigned by the independent appraisal to allow for payment of the seller's full asking price. We also believe that the Service may not have given adequate consideration to other tracts of land that were offered at less cost. The Service's limited documentation justifying the site selection, however, prevented us from conclusively determining whether the Service gave adequate consideration to less expensive tracts of land that would appear to have been suitable for this postal facility. (224960)