Asset Management

The Asset Management Branch of the Commercial Services Program manages the operations, maintenance and capital improvements of government facilities assigned to concessioners.

How Are Assets Managed?

The Concessions Management Improvement Act of 1998 defines the asset management responsibilities for concession facilities. Asset management responsibilities start with contract development and continue throughout the contract term to ensure:

  • Concession facilities are maintained to the satisfaction of the Director
  • Are in compliance with applicable laws
  • Adequately support visitor services

Asset management activities begin during the prospectus development process and include:

  • Oversight of condition assessments to determine condition and life cycle maintenance requirements
  • Identification of capital projects to be included in the new concession contract
  • Negotiations for possessory interest or leasehold surrender interest
  • Development of maintenance plans

Asset management activities during the contract term include:

  • Oversight of concessioner maintenance activities
  • Oversight and review of Concession Facilities Improvement Programs (CFIP)
  • Oversight and audit of Repair and Maintenance Reserve funds
  • Provide estimates and audit of real property insurance values
  • Monitor and audit concessioner’s Leasehold Surrender Interest values and activities

Last updated: January 16, 2020