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Show 41 Qimohday, January 16, 0 1978 Open Account State owned buildings are they really in the publics interest? by Chuck Akerlow movement is afoot in the halls of city goverment and the councils of the State Building Board to persuade the Legislature to appropriate money for state-owne- d office buildings. Even the Deseret News has joined the chorus of those who think the state should build and own its own office buildings. A a sQgfyBg IntenutioMl in iizc. Timclra in itylinc. Engineered to be one of the finest production cars built anywhere in the world. What makes Seville unique? Interestingly, as a result of Sevilles electronic fuel eb, injection there is no rarhuretor. Thus, no carburetor maintenance. It is all part of Cadillac's quest fur perfect ion. Seville combines international size, styling and performance with Cadillac comfort and convenience. And it's available from a unique total concept dealership that offers you Cadillac, Pontiac and CMC Trucks. Total concept is fulfilling your complete transportation needs, sales, leasing or service see CLARENCE KNIGHT INC. CADILLAC PONTIAC 570 NORTH MAIN LAYTON, UTAH 84041 I.AY'ION (K;m 376-344- GMC TRUCKS 825 1634 . SLC The arguments for such a move are not really compelling. For example, it is alleged the state pays enough rent to pay for the buildings several times over. That is a facetious argument since most buildings arc financed over 25 years and I know of no state agency that has been in the same location for even half that time. 3554193 Further, the rent paid includes the costs of utilities, jani- torial, insurance and taxes. Present leases with state goverment are all at rates lower than the prevailing rates for office space in Salt Lake City. If anyone in state goverment thinks the state is a desirable or much sought after tenant, they are wrong. Now if the state builds its own buildings for office space there is almost no probability its costs will decrease even assuming the state is as efficient in office design and construction as most private developers are, an assumption difficult to make. The reason is the state presently pays break even rents now and were it to own its own buildings, the costs of maintenance together with a reasonable return on state money would negate any supposed savings. 0 (I The only payment the state wouldnt make is one of taxes which ought to be reason enough to kill the plan for state owned office buildings. Private developers pay property taxes and income taxes on buildings in which the state is a tenant. For the state to own such a building means it generates no tax revenues to local or state goverment. Yet all of the services of local government, fire, police, sanitation, etc. must be provided to the building. This, then, increases the proportionate tax load on the rest of the populace. When your child turns 18... Another reason there appears to be little wisdom in such a move is that the state is not a very stable tenant. Bureaus and divisions of state government are frequently moved around from office building to office building because they outgrow the space or arc realigned with some other agency or a new administration wants to relocate them. Under lease programs these movements can be more easily made than when the state owns buildings which arc fixed in location and must be utilized. well hand you up to $5, 91 7.23 for college. With no strings attached. Capitol Thrift and Loan would like to introduce you to an amazingly easy way to save for your child's college education We call it our College Education Account " And here's how it works Say you have a new baby Or are expecting one soon. If you put SI. 000 into a College Education Account when your baby is born, your deposit will grow to $5,917.23 in 18 years So when to to college, you'll off your baby is ready go have your original SI. 000 deposit Plus an extra $4,917 23 in interest With no strings attached Let us help pay for your child's college education. Start a College Education Account today At Capitol Thrift and Loan. -- ss.irff's r 15 eri lor compounding ?' ; fjQfE ".i ;r: mum s!' J'. ,rrr,r'.-- ' If we arc to proceed with this program, one firm ground rule should he established. State buildings should be constructed on land cither owned bv the state or in a blighted area of the community within which a state building would bring redevelopment of surrounding property. Salt Lake City's proposal that the state take down d of the block north of the City and County Building is preposterous. Taking that valuable land off the tax rolls would do a great disservice not only to the very goverment which proposes such a move, but to the taxpayers in general. The goverment should not take property primed lor other higher and better use. on Account 'S protected up to 0 ir rtustr'd' Loan ; S' 000 Ly J r.f Ltan a ,V'.nU; corporation hc,h ij not an cf m; of Ulan or o !! f tdyra! tr'-:- d Gu-var- t one-thir- Look how fast your College Education Account grows. During this length of time, Interest 10 Come In Now Your Si. 000 deposit will grow to . Capitol's College Education Account pays up to 10 interest (compounded quarterly) At that rate, you can earn a surprisingly large amount of interest even if you start an account for older children. (See the table.) . . SI, 296.50 SI, 782.44 SI, 782.88 The legislature has many more important matters to consider than this one. The proposal of the building board has been made without sufficient public discussion which it deserves. I hope this issue will be left for the 1979 general session. S2, 432.54 S3, 271 .49 S4, 399.79 SEND THIS COUPON TODAY! $5,917.23 Sir: would like Capitol Thrift and Loan to help pay for my child's college education. Please contact me immediately. Christenson CAPITOL THRIFT AND LOAN Continental Bank Bldg. Salt Lake City, Utah I I I MAIL TO: Mr. Richard A. I I I I Name jnnnn. 3 C I CAPITOL Address City Zip I State .. . Phone . THRIFT AND LOAN OR CALL (801) Since LIMITED TO RESIDENTS OF THE STATE OF UTAH ONLY 1934. I 84101 532-654- 5 I I |