Comment on With $60M police building on hold, Palo Alto pitches 'land bank' scheme

With $60M police building on hold, Palo Alto pitches 'land bank' scheme

Looking to capitalize on a weak real estate market, Palo Alto may go ahead and buy the land for a planned $60 million police building '” even though it can't afford to construct it right now. Under the staff-propose 'land-banking' scheme, the city would hold the property until the economy improves, at which point it could either move forward with the project or sell it at a profit.

 

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