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Reply #14: (CA Gov.) Brown drops controversial plan to sell state buildings [View All]

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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-10-11 01:30 AM
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14. (CA Gov.) Brown drops controversial plan to sell state buildings
Source: San Francisco Chronicle

(02-09) 14:44 PST Sacramento -- 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 to lease back those buildings over a 35 year period.

"The sale of the buildings really didn't make much sense," Brown said at a news conference at the Capitol.

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