The real estate question

As Athens-Clarke County, like other local governments, grapple with dire budgetary circumstances, one of the ideas that has started to float around in various circles is the need for the community to sell some of its existing stock of land to raise revenue.

It's true the county owns a large chunk of land in Athens-Clarke County, and 2002 report on tax-exempt land in the community showed roughly $1.5 billion off the rolls in favor of various public entities. Athens-Clarke County was responsible for approximately $300 million of that total.

And it's true that there are parcels of land the commission could ponder selling, and doing so would possibly bring about some short-term infusions of cash. However, this strategy is not a sure one for a variety of reasons. For starters, with demand for property low, prices will be depressed and there's no assurance the property will sell quickly enough to make an impact on the ongoing fiscal situation.

In addition, selling off assets to address a temporary - though admittedly serious - budgetary problem might not fit the long-term needs of the local government. If there is a rationale for expanding an office, or possibly consolidating one, down the road, then it's not a wise strategic decision to begin offering up property to the highest bidder.

Selling property looks like an easy way out, but it merely adds a future problem to address an existing one. If there is property that can be sold and not impact the community's long-term plan, then perhaps that's a rational course of action. However, conducting a fire sale to pay the bills isn't a viable strategy.