The Public Buildings Reform Board was established by statute on December 16, 2016 (Pub. L. 114-287, 130 Stat. 1465) as an independent Board.
It's mandated to identify opportunities for the Government to reduce significantly its inventory of civilian real property and reduce costs to the Government.
The Board is directed, within 6 months of its formation, to recommend to the Office of Management and Budget the sale of not fewer than five properties not on the list of surplus or excess with a fair market value of not less than $500 million and not more than $750 million.
In two subsequent rounds over a five-year period, the Board is responsible for making recommendations for other sales, consolidations, property disposals or redevelopment of up to $7.25 billion.