anchor: Annually, the Federal Government provides funding to state and local governments for the purchase, the construction, or the major renovation of physical property owned by state and local governments; additionally, from time to time, the Federal Government transfers PP&amp;E to these governments in exchange for less than fair value.
positive: Physical property owned by state and local governments can have their purchase partially funded by the Federal Government.
negative: The Federal Government never gives state or local governments money for any reason.