Arizona Better Find a Realtor; Brewer Signs Bill Putting State Capitol Up for Sale

Holy crap, she really did it!

On Thursday, Governor Jan Brewer signed a portion of the state budget that allows for the sale of state buildings, including both houses of the state legislature, the state fairgrounds, prisons, and several other state owned buildings.

The plan, which drew national attention after Brewer brought it up last month, is projected to bring in close to $735 million to help close the state's historic $3.4 billion budget gap.

Representative Lynne Pancrazi tells the Arizona Republic that she's worried that private companies won't be able to maintain things like prisons as well as the state could.

Oh, right, because the state government has just been the model of efficiency lately.

What's the going rate for state assets, you ask? Here's a breakdown.

-- The Senate and House buildings, $18.2 million apiece.
-- The Executive Tower, $39.5 million.
-- The Department of Public Safety building in Phoenix, $50.5 million.
-- The DPS building in Tucson, $7.3 million.
-- The Arizona State Hospital in Phoenix, $176.1 million.
-- The Coliseum and Exposition Center, $84.4 million.
-- Kartchner Caverns State Park near Benson, $10.6 million.

Several investors have already expressed interest in buying the buildings, and then leasing them back to the state.

The draw for investors, according to state officials, is that having the state as a tenant guarantees a return on the investment, and stability.

This is coming from the same people who, until yesterday, didn't know if they were going to be able to pay DPS officers.

Sounds like a pretty "stable" investment to us.

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James King
Contact: James King