Brown Cancels Sale
Sacramento, CA — Governor Jerry Brown is cancelling plans to sell 24 state government buildings.
Governor Schwarzenegger had been negotiating a deal during his final days in office to sell the buildings as a way to raise $2.3 billion. The state would have continued using the buildings by entering into a 20 year lease with the new owners. Brown says this would have cost taxpayers in the long run, and would have amounted to a “gigantic loan.”