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AB-2174 State property: surplus.(2013-2014)

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AB2174:v94#DOCUMENT

Assembly Bill No. 2174
CHAPTER 337

An act relating to state property, and making an appropriation therefor.

[ Approved by Governor  September 15, 2014. Filed with Secretary of State  September 15, 2014. ]

LEGISLATIVE COUNSEL'S DIGEST


AB 2174, Committee on Accountability and Administrative Review. State property: surplus.
Existing law authorizes the Director of General Services to dispose of state surplus property, subject to specified conditions, including authorization by the Legislature. The California Constitution provides that the proceeds from the sale of surplus state property be used to pay the principal and interest on bonds issued pursuant to the Economic Recovery Bond Act until the principal and interest on those bonds are fully paid, after which these proceeds are required to be deposited into the Special Fund for Economic Uncertainties. Existing statutory law similarly requires that the net proceeds received from any real property disposition be paid into the Deficit Recovery Bond Retirement Sinking Fund Subaccount, a continuously appropriated fund, until the bonds issued pursuant to the act are retired.
This bill would authorize the director to dispose of specified parcels of surplus state property. This bill would also specify the treatment of state and federal equity reimbursements in one of the properties being so disposed. By increasing the amounts transferred into continuously appropriated funds, this bill would make an appropriation.
Vote: MAJORITY   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 (a) The Director of General Services may sell, exchange, sell combined with an exchange, or lease for fair market value, upon those terms and conditions as the Director of General Services determines are in the best interests of the state, all or any part of the following real property pursuant to Section 11011.1 of the Government Code:
(1) Parcel 1, consisting of approximately 0.434 acres and improvements, known as the Employment Development Department parking lot located at 850 Turk Street in San Francisco, San Francisco County Assessor Parcel Number 0744-006.
(2) Parcel 2, consisting of three parcels of approximately 0.29 acres and improvements, known as the Employment Development Department parking lot located at 745 Franklin Street in San Francisco, San Francisco County Assessor Parcel Numbers 0761-002, 0761-003, and 0761-022.
(3) Parcel 3, consisting of approximately 1.5 acres and improvements, known as the Department of General Services’ Bercut Drive Building, located at 570 Bercut Drive, in Sacramento, Sacramento County Assessor Parcel Number 01-0181-028.
(4) Parcel 4, consisting of approximately 1.1 acres and improvements, known as the Department of Public Health lab facility located at 1449 West Temple Street in Los Angeles, Los Angeles County Assessor Parcel Number 5160-005-900.
(5) Parcel 5, consisting of approximately 2.03 acres and improvements, known as the Department of Corrections and Rehabilitation’s Fresno Female Offender Program Property, located at 2855 Whitesbridge Avenue, in Fresno, Fresno County Assessor Parcel Number 464-020-01-1.
(6) Parcel 6, consisting of approximately 1.04 acres and improvements, known as the California Highway Patrol field office located at 1888 Oceanside Boulevard, San Diego County Assessor Parcel Number 151-010-19.
(7) Parcel 7, consisting of approximately 1.87 acres and improvements, known as the California Highway Patrol field office located at 4040 Pierce Road, Bakersfield, Kern County Assessor Parcel Number 332-0100-029.
(b) To the extent bonds issued by the State Public Works Board involve the property to be sold pursuant to this section, all issuer- and trustee-related costs associated with the review of any proposed sale, together with the costs related to the defeasance or retirement of any bonds, which may include the cost of nationally recognized bond counsel, shall be paid from the proceeds of any sale or lease authorized by this section.
(c) Parcel 1 has both federal and state equity. Proceeds received from the disposition of Parcel 1 shall be subject to the reimbursement of federal and state equity financing, as required under applicable federal and state laws.