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(Jerry) Brown drops controversial plan to sell state buildings [View All]

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Newsjock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-09-11 12:55 PM
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(Jerry) Brown drops controversial plan to sell state buildings
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Source: San Francisco Chronicle

California will not go through with its controversial plan to sell state buildings then lease them back to help plug the budget deficit, Gov. Jerry Brown announced this morning.

The proposed sale of the California Supreme Court headquarters in San Francisco and ten other buildings would have raised $1.2 billion for the state. But Brown said the plan was short-sighted and would have cost taxpayers billions lease back those buildings over a 35 year period.

... The deal was arranged by former Gov. Arnold Schwarzenegger and had been approved by the Legislature, but got caught up in the courts after three former state Building Authority members sued the state to block the sale. They claimed the state would illegally waste taxpayer dollars.

... The sale agreement includes a $50 million penalty against the state if it backs out of the deal. (Joseph Cotchett, lawyer for two of the plaintiffs) said the buyers, an investment group called California First, might go to court to try to force the state to proceed with the sale. But he said he and his clients would argue that the contract "was an unconstitutional act and therefore was void, and there should be no penalty."

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  -(Jerry) Brown drops controversial plan to sell state buildings Newsjock  Feb-09-11 12:55 PM   #0 
  - I'm glad to hear this...  CaliforniaPeggy   Feb-09-11 12:59 PM   #1 
  - Not to mention more costly to the state than not doing it  CreekDog   Feb-09-11 05:00 PM   #10 
  - Go Jerry. He's got a lot of Arnold's mistakes to clean up.  Cleita   Feb-09-11 01:04 PM   #2 
  - He cleaned up lots of Reagan's mess the first time he was Gov.  mulsh   Feb-09-11 05:49 PM   #13 
  - One of Arnie's worst ideas.  Hell Hath No Fury   Feb-09-11 02:14 PM   #3 
  - This is how BUSINESS WORKS  tomhayes   Feb-09-11 02:16 PM   #4 
  - Just Arnie?  former9thward   Feb-09-11 03:23 PM   #6 
  - This makes sense for scumbag BUSINESSES  tomhayes   Feb-09-11 04:08 PM   #8 
     - The buildings are not going to disappear.  former9thward   Feb-09-11 04:59 PM   #9 
        - yes but the state would be paying to stay in buildings that they currently own  CreekDog   Feb-09-11 05:02 PM   #12 
  - Sell your car for $2000  CreekDog   Feb-09-11 05:00 PM   #11 
  - Good for Jerry Brown  The Second Stone   Feb-09-11 02:18 PM   #5 
  - Totally approve  Auggie   Feb-09-11 04:03 PM   #7 
  - (CA Gov.) Brown drops controversial plan to sell state buildings  alp227   Feb-10-11 12:30 AM   #14 
  - Good. Stupid idea Ahnuld and his cronies came up with to make a buck off the state. nt  bemildred   Feb-10-11 12:30 AM   #15 
  - That was a leftover arnie plan  Merlot   Feb-10-11 12:30 AM   #16 
  - this is what  sweetapogee   Feb-10-11 12:30 AM   #17 
  - When the Rethuglicans were in charge in Colorado,  generalbetrayus   Feb-10-11 12:30 AM   #18 
  - He proposed the idea to get street cred with the very gullible RWers, lol.  kestrel91316   Feb-10-11 12:30 AM   #19 
  - Did Arnold get kickbacks for making these deals?  Democat   Feb-10-11 02:03 AM   #20 

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