Quantcast
Home / agencies / More state buildings going on sale

More state buildings going on sale

More state buildings go up for sale next week as Arizona officials hope to raise $300 million and help close the budget deficit.

It’s the second time this year that the state has sold off buildings in a sale-leaseback plan. The first one in January raised $735.4 million and that prompted Arizona lawmakers to authorize a second sale.

The sale will be conducted June 8 and investors will be required to make purchases in $5,000 installments. Investors must work through a list of underwriters provided by the state.

The sale-leaseback comes on the heels of last week’s action in which the state borrowed $450 million against the proceeds of future state Lottery revenues.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

2 comments

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

This Oct. 22, 2012, file photo shows a view from the South Rim of the Grand Canyon National Park in Ariz. The impending closure of a coal-fired power plant on the Navajo Nation could lend momentum to a project being considered by tribal leaders to build a tram at the Grand Canyon to fill the economic void. The Grand Canyon Escalade project was brought up to Navajo Nation lawmakers and tribal members last fall by former Navajo Nation President Albert Hale as a solution to shrinking revenues from nonrenewable energies, (AP Photo/Rick Bowmer, File)

Coal plant’s possible closure spurs Grand Canyon tram debate

The impending closure of a coal-fired power plant on the Navajo Nation could lend momentum to a project being considered by tribal leaders to build a tram at the Grand Canyon to fill the economic void.