Democrat faults Brewer’s repurchase proposal
Published: January 12, 2012 at 4:43 pm
Democratic legislators say Republican Gov. Jan Brewer’s proposal to repurchase three high-profile state buildings that the state sold to help close budget shortfalls is misguided.
Brewer wants to repurchase two legislative buildings and the Executive Tower for $106 million, including $25 million of interest owed through 2019.
That’s the earliest that Arizona can end the lease-purchase agreements, which Brewer’s office says the state will save $47.5 million of additional interest.
Brewer calls the repurchase an important statement that Arizona’s finances are improving, but Representative Anna Tovar says the repurchase money would be better spent on school building repairs.
The Tolleson Democrat says repurchasing the buildings before 2019 saves no money and that it’s better now to use the money on work that would provide jobs and improve schools.
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