Sale Leaseback Legal!

by CalWatchdog Staff | December 10, 2010 3:45 pm

Anthony Pignataro:

Great news for everyone who thinks that the Great State of California can help balance its budget by selling 11 office buildings for about $1.3 billion and then leasing them back over the next 20 years at a cost of $1.4 billion: today Superior Court Judge Charlotte Woolard ruled that the proposed sale-leaseback [1]deal is legal and can go forward (click here [2]to read my colleague Katy Grimes’ take on the deal).

We’re saved! And by “saved,” naturally, I mean “doomed.”

DEC. 10, 2010

Endnotes:
  1. sale-leaseback : http://blogs.sacbee.com/capitolalertlatest/2010/12/judge-rules-sale-of-state-buil.html
  2. here : http://www.calwatchdog.com/2010/11/11/state-property-sale-costing-taxpayers-millions/

Source URL: https://calwatchdog.com/2010/12/10/sale-leaseback-legal/

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