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CFO Sink Leads Florida Cabinet in Rejecting Overpriced Land Deal

9/16/2008

CONTACT: Tara Klimek or Jerri Franz
(850) 413-2842  
TALLAHASSEE—Florida Chief Financial Officer Alex Sink today led the Florida Cabinet in objecting to using nearly $38 million in tax dollars to purchase a parcel of land known as Pine Plantation that the state twice appraised for $28 and $25 million, respectively. 

Following CFO Sink’s comments and a lengthy discussion, the Florida Cabinet voted 2-2 against paying a Central Florida attorney $15 million more than his purchase price only 2 ½ years earlier.
Following the Florida Cabinet meeting, Chief Financial Officer Alex Sink today offered the following comments:
 
“I’m proud that the Florida Cabinet made the right decision today to reject spending $38 million in tax dollars in an overpriced land deal.  People are suffering right now, and our state has enormous economic needs.
 
"As Florida’s fiscal watchdog, I am committed to speaking out about wasteful government spending. Like Florida’s families are doing everyday, government must set priorities and only spend tax dollars when it is wise and economically sound to do so.”
 
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink  oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. CFO Sink also serves as the State Fire Marshal.