Investment and Enterprise Development (IED) Service - Office of Asset Enterprise Management
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Office of Asset Enterprise Management

 

Investment and Enterprise Development (IED) Service

Team analyzing data

The Investment Enterprise and Development Service (IEDS) is responsible for administering the concept (formulation) through construction (execution) phases of VA’s Enhanced-Use Lease (EUL) program - an exciting and unique tool in VA’s capital asset management portfolio.  Through this program, VA out-leases underutilized real estate under its jurisdiction or control to the private sector for up to 75 years.  In return, EULs provide Veterans with an expanded range of services that would not otherwise be available on medical center campuses.

The EUL authority was originally enacted in 1991, under sections 8161 through 8169 of Title 38 U.S.C. §§8161 — however, that authority expired December 31, 2011. The EUL authority was reinstated in 2012, in modified form via Public Law 112-154, Section 211, through December 31, 2023, and that authority was further modified by the West Los Angeles Leasing Act 2016.

Currently, the statute authorizes the Secretary of Veterans Affairs to enter into an EUL for a term of up to 75 years for the purpose of providing supportive housing.  In return for allowing Department-controlled land to be leased, VA may receive rent in the form of fair value cash payments as consideration.  The Secretary may also choose to forego monetary consideration, if - in the opinion of the Secretary - the total consideration for the lease constitutes fair consideration.  Program results may include significant cost savings compared to construction and leasing; substantial private investment in the Department’s capital facilities and infrastructure; new long-term sources of revenue; and the creation of local jobs and tax revenues.

Eliminating Veteran homelessness is one of VA’s top priorities.  Through EUL partnerships and housing projects, the Department’s underutilized real estate is being reused as part of the solution.  Read more…