Posted by Jim Battin at 12:00 am on May 21, 2008 Comments Off on Waste Watch – Still Surplus After All These Years
Back in May 2004, Gov. Arnold Schwarzenegger ordered state
agencies to expedite the sale of an estimated $5 billion in surplus
state properties. It was an ambitious plan designed to help the
state raise money it badly needed.
That November, voters backed the governor with Proposition 60A,
directing proceeds from the sale of those properties be used to pay
down deficit bonds. Now, four years later, the state has yet to
sell off most of the targeted surplus properties, according to the
Los Angeles Daily News (April 8th).
The state Finance Department indicates that the state sold off
no surplus property in the 2004. And while property sales climbed
to $12.9 million in 2005-06, they fell to just $1.4 million in
2006-07.
Beth Mills, spokeswoman for the Department of General Services
that handles surplus state land sales, said that during the current
2007-08 fiscal year, the state is expecting to take in $31.7
million from two sales.
“‘About $21 million is a payment the state is receiving from the
sale of… Read More