The California Department of General Services (DGS) today announced the successful sale of the state’s Los Angeles Civic Center parcel. The Los Angeles City Board of Recreation and Parks plans to turn the property into a park, as it currently sits adjacent to “Grand Park” in Los Angeles across from City Hall.
In 2011, Governor Jerry Brown directed DGS to target any underutilized or surplus properties that could be sold to generate revenues to pay down state debt. Since that time, DGS has sold 12 properties, generating nearly $50 million in revenue for the state.
Read more in the DGS press release. http://bit.ly/13Hpjqx