Tuesday, September 07, 2010
KY Government Landlords Asked To Reduce Rents
KENTUCKY...
Gov. Steve Beshear's administration is asking landlords who lease office space to state agencies to reduce their rent charges by 5 percent to help offset a budget shortfall.
Letters were sent last week making the request, and suggesting that failing to comply could mean the agencies may look for cheaper space elsewhere.
State revenues have declined by some $1.5 billion over the past two years, largely the result of an ailing economy. Private sector layoffs have delivered a double whammy to revenues from income taxes and sales taxes.
The Beshear administration already has begun furloughing state employees, restructuring debt and cutting back government contracts to cut expenses.
Gov. Steve Beshear's administration is asking landlords who lease office space to state agencies to reduce their rent charges by 5 percent to help offset a budget shortfall.
Letters were sent last week making the request, and suggesting that failing to comply could mean the agencies may look for cheaper space elsewhere.
State revenues have declined by some $1.5 billion over the past two years, largely the result of an ailing economy. Private sector layoffs have delivered a double whammy to revenues from income taxes and sales taxes.
The Beshear administration already has begun furloughing state employees, restructuring debt and cutting back government contracts to cut expenses.
# posted by Homer Owens @ 10:30 PM 
