The current regime, with its bias in favor of operating leases, precludes this evaluation and analysis.

The Advisory Group raised the question of whether this sort of public/private collaboration could have been used to finance a renovation of the building (or a similar building) for continued federal office use under a lease/leaseback transaction. Current rules effectively prohibit such a transaction, but a look at the case study suggests that those rules should be reconsidered. Applying consistent evaluation and scoring criteria to the various alternatives would allow the fair consideration of a federally funded or PPP-funded rehabilitation of an existing building as a substitute for new construction or a long-term lease.