Putting Assets to Work

Governments are sitting on a gold mine without realizing it. Just as private individuals and corporations use assets (like machines or buildings) to generate income, governments can do the same with their assets. Governments across the United States own underutilized real estate assets - dormant parking lots, empty plots of land, vacant buildings in prime locations, and more. What could happen if governments could make better use of those assets? What if governments could generate revenue from those assets - without losing ownership? And use that new money, earned without raising taxes on a single person, to stabilize government revenues, deliver benefits for residents, and even lower taxes? GFOA, with support from Urban3 and the Common Ground Institute (CGI), is seeking applications from government entities seeking to unlock opportunities and revenue from publicly-owned real estate assets to participate in GFOA’s Putting Assets to Work initiative.
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