State Capitol for Sale?

[The Straight Story]

State Capitol for Sale?

PHOENIX (AP) -- It's a sign of the desperate times: Arizona lawmakers are looking at selling off state government buildings to raise funds for the cash-strapped state.

The plan would be to sell the historic House and Senate buildings, then lease them back over several years before assuming ownership again.

Dozens of other state buildings may also be sold off and leased back as the state grapples with a huge budget deficit.

Under the complex financial arrangement, state government services would continue without interruption while the state picks up a cash infusion estimated at $735 million.

For investors, the deal means long-term lease payments from a stable source.

http://www.news10.net/news/thebuzz/story.aspx?storyid=64298&catid=159

[Jeep789]

1. Yep, renting is always cheaper than owning

:crazy: What the heck are these legislatures thinking?

[thunder rising]

2. Pawn the stuff till payday .. exactly what a drunk does.

[angstlessk]

3. it sounds like that is exactly what they are doing...I do not know how

a private entity making money off the state leasing their own buildings can be a boon to the state? Why not just get a new mortgage? How this benefits the state except for a one time cash payment which will cost the state more over time than they received is going to help the citizens of Arizona...RAISE TAXES ON THE RICHEST FUCKERS!!!

[MADem]

6. Why not consolidate some of their workspaces and rent out the excess

or get rid of it?

I guess everyone wants their private offices....!

[RC]

4. This sounds like another republican idea to enrichen a few at the expense of the rest.

[liberal N proud]

5. The state owning those building is socialism

Can't have any of that.

[moondust]

7. Anything but taxes.

Smart. Real smart.

[Union Yes]

8. Selling a capitol to raise capital. Only in the Newblighted State Of Murikkka