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Desperate state may sell Capitol buildings, others
Under GOP plan, government would pay to lease back most of the sites
by Matthew Benson and JJ Hensley - Jul. 29, 2009 12:00 AM
The Arizona Republic
Call it a sign of desperate times: Legislators are considering selling the House and Senate buildings where they've conducted state business for more than 50 years.
Dozens of other state properties also may be sold as the state government faces its worst financial crisis in a generation, if not ever. The plan isn't to liquidate state assets, though.
Instead, officials hope to sell the properties and then lease them back over several years before assuming ownership again. The complex financial transaction
would allow government services to continue without interruption while giving the state a fast infusion of as much as $735 million, according to Capitol projections.
http://www.azcentral.com/news/election/azelections/articles/2009/07/29/20090729assets0729.html
Under GOP plan, government would pay to lease back most of the sites
by Matthew Benson and JJ Hensley - Jul. 29, 2009 12:00 AM
The Arizona Republic
Call it a sign of desperate times: Legislators are considering selling the House and Senate buildings where they've conducted state business for more than 50 years.
Dozens of other state properties also may be sold as the state government faces its worst financial crisis in a generation, if not ever. The plan isn't to liquidate state assets, though.
Instead, officials hope to sell the properties and then lease them back over several years before assuming ownership again. The complex financial transaction
would allow government services to continue without interruption while giving the state a fast infusion of as much as $735 million, according to Capitol projections.
http://www.azcentral.com/news/election/azelections/articles/2009/07/29/20090729assets0729.html
