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Audit: Caltrans property rentals lost millions of dollars

August 17, 2012 4:52:56 PM PDT
A state audit says the California Department of Transportation (Caltrans) wasted millions of dollars in state-owned homes along the proposed 710 Freeway extension.

The report claims the agency didn't charge the market rate to tenants renting the homes.

The alleged mismanagement resulted in Caltrans passing up roughly $22 million in rental income between 2007 and 2011.

The report recommends that Caltrans investigate whether a private vendor could better manage the properties.