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DEW sells underused buildings; proceeds to fund new tax system
Summary
Director Stanton told lawmakers the agency has sold surplus real estate and, working with the Department of Administration and CBRE, returned nearly $9 million; proceeds—originally federal dollars used to buy buildings—are being used to buy a modernized tax system rather than requesting general funds.
Committee members asked how the department is handling surplus properties. Cheryl Stanton said the agency pursued an aggressive surplus-sales initiative, sold a number of older, underused buildings and, since an executive order to divest, has returned roughly $9 million to the agency coffers. She said many of the proceeds originally came from federal funds used in the 1980s and that the Department of Labor now encourages agencies to divest unneeded real estate.
Stanton said the agency intends to use the sale proceeds to fund a modernized tax system so it does not have to request general funds. She said the Department of Administration and its real-estate partner CBRE are marketing unsold properties and that local governments have bought several properties when a community use fit the site.
