The San Diego City Council this afternoon considers a plan from the mayor's office to sell 19 pieces of property the city owns.
Many of the properties are residential. Council President Scott Peters supports the plan for the sale. He says the City really has no business being the landlord for a single family house in La Jolla. But Peters is concerned that proceeds from the sales are used properly.
Peters : You shouldn't be selling a property for one-time money and use that to pay recurring expenses. If we sell properties we ought be using that money to make other investments that pay off over time -- whether it's into reserves or paying down the pension, or acquiring other properties, so there's some capital permanent benefit you get out of that. We shouldn't ever be selling property just to pay this year's bills.
