Taxpayer group criticizes plan - Legislators could sell land to create education fund

Record Searchlight ^ | September 4, 2005 | Tim Hearden

[calcowgirl]

State Treasurer Phil Angelides' proposal to sell or lease idle state property and use the money for higher education has drawn fire from a taxpayers organization.

A bill in the Senate Appropriations Committee would establish the California Hope Endowment, which would enact Angelides' idea of taking about $5 billion in state land and putting it in a trust.

With a 6 percent return, the trust would generate $300 million for outreach, counseling, help with college preparation and scholarships, the treasurer asserted last week.

"One of the biggest needs facing our state is to educate a work force who can compete in a global economy," Angelides said in an interview Wednesday after touting his campaign for governor to more than 60 north state Democrats. "I believe during tough budget times, we ought to be willing to take a risk for education."

But the bill is opposed by the Howard Jarvis Taxpayers Association. Organization president Jon Coupal said the state shouldn't be in the land business because it's proven to be a "horrible" asset manager.

"If they're talking about divesting lands for use in the private sector, we're all for that," said Coupal, who was in Redding on Thursday to promote three ballot measures backed by Gov. Arnold Schwarzenegger.

"My understanding is this is a foot in the door for the state to be an uber-landlord for the purpose of revenue generation. We don't think that's appropriate," Coupal said.

(snip)

The California Department of General Services estimates the state owns about 6.6 million acres of land and about 23,000 structures totaling about 204 million square feet. It owns 46 million square feet of offices, industrial spaces, warehouses, residences and parking structures, and leases another 2,000 sites.

Angelides said properties up for sale or lease likely would not include dormitories, libraries or hospitals.

[TheOracleAtLilac]

What an uninformed moron !

It's for the chillrun

AS if were not wasting enough $'s & getting miserable results, we need more $'s

[Amerigomag]

State Treasurer Phil Angelides' proposal to sell or lease idle state property and use the money for higher education ... would establish the California Hope Endowment, which would enact Angelides' idea of taking about $5 billion in state land and putting it in a trust ... With a 6 percent return, the trust would generate $300 million for outreach, counseling, help with college preparation and scholarships

Once a liberal, always a liberal.

Yet another grandiose scheme to redistribute wealth. In this case use land and facilities, acquired and/or constructed using taxpayer monies, principally from productive Californians, to located and finance students who are not prepared for or not qualified to attend an academic, post secondary, state or private sponsored college.

In addition, since California's state sponsored universities are filled to the brim this scheme will displace qualified, private pay candidates from entrance to these universities. The very children of those who will be forced to support this scheme will find that their qualified children are denied entrance to allow a position for an unqualified student that this scheme will promote.

This scheme will promote only two results: 1) Higher taxes for those attending public universities and 2) diminishing the reputation of our state universities as unqualified students are allowed to roam the hood (campuses) at tax payer expense.