Denham says ´California Needs to Get off its Lazy Assets´

Sacramento – Senator Jeff Denham (R-Merced) today introduced his "State Properties Reform Package." The first three measures of a multi-bill package are designed to shed the state of underutilized property to raise needed revenue and reduce costs to help cut the multi-billion dollar budget deficit:

"California needs to get off its lazy assets," said Denham. "The state is sitting on billions of dollars of underutilized and mismanaged properties that should be put up for sale immediately to help solve the budget crisis."

The bill package includes:

SB 28 would require the decommissioning and sale of the San Quentin Prison property (estimated $2 billion value) to build a new cost-saving prison elsewhere;

SB 29 would require the sale of the Los Angeles Memorial Coliseum and Sports Arena land parcel (estimated $240 - $400 million value); and

SB 30 would direct the Department of General Services to identify at least $1 billion in additional state property that could be put up for sale immediately to help close the state´s budget deficit.

"Selling surplus state property clearly will not solve the entire budget crisis, but it will help chip away at the massive deficit with a one-time influx of cash and cost savings," said Denham.

For details on these bills, visit www.senate.ca.gov.

Audio sound bites with Denham are available at www.sen.ca.gov/denham.