California Property For Sale?

Dave Cogdill

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Sacramento, CA - Senator Dave Cogdill chaired a select committee hearing this morning looking into how much surplus property is owned by the state.

California lawmakers are looking to possibly sell some of the surplus to help balance the budget deficit.

"We gathered some meaningful information that I hope leads to 100 percent compliance with the state's new surplus property reporting law," says Cogdill. "With a complete and accurate assessment of what land assets the state holds, we can determine whether it's in the best interest of taxpayers to hold onto those properties or to sell them to help with the state budget crisis."

Last year, lawmakers approved Assembly Bill X4 22, which requires state agencies to provide more detail in the reporting of their property holdings, including current uses, future uses and surplus properties.

The list must be compiled and given to lawmakers by June 30th. Representatives of more than 30 state agencies testified about their awareness of the new requirements, and that procedures have been implemented to comply with the requirements.

Cogdill says that many agencies in the past were not forthcoming about surplus property holdings, which is why the new law was needed.

Governor Schwarzenegger has also proposed selling major properties like San Quentin Prison, L.A. Coliseum and CAL Expo.

Written by bjhansen@mlode.com.