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Asset Management Posters

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  • 1. Asset Management Plan
  • 2.
    • The State’s assets fall into three categories
      • Surplus property
      • Underutilized property
      • Assets
    Asset Management Efficiencies and Opportunities
  • 3. Category #1: Disposal of Surplus Property
    • Surplus Properties
      • Not utilized – serves no current purpose
      • Not needed for the State’s future plans
  • 4. Current Surplus Property Fred C. Nelles School for Boys
    • Location: Whittier, CA
    • Acreage: 74
    • Estimated Value: $70 million
  • 5. Proposed Surplus Property Agnews Developmental Center
    • Location: San Jose, CA
    • Acreage: 86
    • Estimated Value: $60 million
  • 6. Category #2: Better Utilization of Existing State Property
    • Properties are currently in use but underutilized
    • Potential exists to maximize usage of the property to achieve its highest and best use
    • Potential exists for long-term ground leases
  • 7. Long-Term Ground Lease Example California Institution for Men, Chino
    • Location: Chino, CA
    • Acreage: 1,700 (60 acres identified as underutilized)
    • Estimated Land-Lease Value: $1 million annually (beginning FY 2015-16)
  • 8. Category #3: State Assets
    • Applies to properties that are utilized but retain significant equity that may be attained by the State through refinance or sale
    • Includes office buildings and high-value properties
  • 9. Refinancing of State-Owned Buildings
    • Potential exists to refinance bond-financed buildings that have increased in value
    • Potential revenue: $500 - $600 million
  • 10. Sale/Leaseback of State Buildings
    • Allows the State to capture a property’s equity and eliminate debt tied to the property
    • State would continue to occupy the property per the leaseback agreement
    • Eleven buildings identified for potential sale/leaseback
    • Potential Revenue: $600 million
  • 11. Sale/Leaseback Example Ronald Reagan Building
    • Location: Los Angeles, CA
    • Estimated Market Value: $182 million
  • 12. Sale of High-Value Properties
    • Allows for the disposition of existing State assets to free up needed equity
    • Functions of property do not necessarily change, only ownership
      • Opportunities exist for local fairs, community events, and racetracks to continue operation
  • 13. High-Value Property Example #1 Cow Palace
    • Location: Daly City, CA
    • Acreage: 70
    • Estimated Value: $40 – $75 million
  • 14. High-Value Property Example #2 Orange County Fairgrounds
    • Location: Costa Mesa, CA
    • Acreage: 190
    • Estimated Value: $96 – $180 million
  • 15. Summary
    • The Asset Management Plan
      • Presents an opportunity to fundamentally change the way we conduct our business and manage our assets
      • Requires multi-year implementation that must begin now
      • Could generate billions in General Fund income and savings