State to sell buildings to make quick cash

September 24, 2009 7:17:59 PM PDT
California is planning to sell 11 state-owned buildings as part of a short-term fix for the chronic budget deficit.

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The buildings are worth about $2 billion.

State agencies will lease their office space back from the new owners.

Ironically, those buildings, including the franchise tax board campus and education department building, were built when the state decided it was cheaper to own than rent.

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