What is a cash-strapped group to do when they become desperate for cash? Your first answer was probably, “sell their business,” but what if I told you the group was your state legislature?
Check out this story the AP compiled from the Arizona Republic and post your comments below.
“For sale: historic buildings with reliable tenants.
Arizona lawmakers, desperate for cash, are considering selling the House and Senate buildings, then leasing 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.
The state's budget shortfall is projected at around $3.4 billion.”
So, should our state government’s look to sell the Capitol buildings to make extra money? If this happened here, would you buy your local Capitol and lease it back to local government?
Post your comments below.