To get the Government out of competition with the building industry, the Budget Bureau and the General Services Administration last year tried a new idea. Why not let private builders pay for new post offices and other federal buildings, sell them to the Government on a lease-purchase deal? Last week Budget Bureau Director Rowland R. Hughes reported that the lease-purchase program's first year has been highly successful. The General Services Administration has approved 26 lease-purchase building projects valued at a total of $91 million; the Post Office Department has approved 27 projects. Total value: $105,562,027.
In a lease-purchase arrangement, the Government...
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