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Ever wonder what happens to the real (non-financial) assets blocked or seized by OFAC? Wonder no longer — from FedBizOpps.gov comes this proposed vendor solicitation:
- The Department of the Treasury, Departmental Offices, Procurement Services Division (DO/PSD), is contemplating issuing a RFP for management of disposition of seized, forfeited, and/or blocked real property. …the prospective contractor would be required to provide property management and disposition services in support of the seizure and forfeiture program overseen by the Treasury Executive Office for Asset Forfeiture (TEOAF) and blocked real property in support of the Office of Foreign Assets Control (OFAC). More specifically, the prospective contractor would be required to provide for the pre-seizure analysis, secured custody, inventory management, protective maintenance, pre-sale title analysis, and the economical sales or other forms of disposition of seized, forfeited and/or blocked real property.
- The contract will support the Department of the Treasury (Treasury) and components within the Department of Homeland Security (DHS) that participate in the Treasury Forfeiture Fund (TFF), as well as OFAC by providing services for the receipt, possession, custody, management, and disposition of seized, blocked and/or forfeited real property. The goal of such procurement effort is to award a new contract that will reduce the overall cost of the operations and reduce contract administration costs, while improving on customer service.
There are already 12 interested vendors listed on the site. It's good to see that the government realizes that its job is not to manage these assets themselves but rather to maintain focus on whose assets should be blocked. An added benefit is that there are potential cost savings by farming the job out to firms who specialize in such activities. Well done, Treasury. Well done.
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