Connecticut Gov. M. Jodi Rell last week announced the state had identified buildings and parcels of land to be sold to raise money under its enacted budget.
The budget called for the state to sell $15 million of assets in fiscal 2010 and $45 million in fiscal 2011, but did not specify which assets were to be sold.
“This is a chance for the state to realize much-needed revenues and for residents, developers and others to buy prime property and other assets,” Rell said in a press release. “Selling these parcels will bring in cash for the state without adding to the burdens on taxpayers or employers.”
Some of the properties will be sold at auction while others will go through a request for proposal process with prospective developers.
Among the assets beig offered for sale were the Seaside Regional Center in Waterford, a beachfront property that had served the mentally disabled; Nathan Hale Hall, a former hotel and college dormitory in Willimantic; 7 North Street, a former jail in Litchfield; the Bristol Armory; and more than 40 parcels owned by the Connecticut Department of Transportation.
Connecticut will conclude the 2010 fiscal year with a deficit of $549 million due to declines in income and sales taxes, according to Comptroller Nancy Wyman’s most recent projections.
The General Assembly’s $37.57 billion fiscal 2010 and 2011 budget became law two months late in September without the signature.
The Legislature is controlled by Democrats, while the governor — who announced on Nov. 9 that she would not seek re-election in 2010 — is a Republican.