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DEW selling surplus buildings; proceeds earmarked for tax system upgrade
Summary
Stanton said DEW has sold surplus properties (working with CBRE) and returned nearly $9 million to the agency; she said the funds, often federal in origin, are being reinvested into a modernized tax system rather than seeking general funds.
Stanton described a surplus property initiative begun after an executive order urging sale of unneeded state buildings. She said CBRE was engaged to market remaining assets and that earlier sales have returned nearly $9 million — federal funds from prior property purchases — which DEW plans to use to buy a modernized tax system rather than request general‑fund appropriations.
Legislators asked about appraised values, local impact and sales to local governments; Stanton said some properties were sold to local governments and institutions (she corrected an earlier slide noting MUSC rather than the College of Charleston for one Charleston sale) and agreed to provide appraisal data and sale details to the committee.
