Posted Jul 11, 2017, 10:51 PM
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Meh
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Join Date: Jul 2001
Location: Austin,TX<-->Dripping Springs,TX<-->Birmingham, AL<-->Warm Springs,GA
Posts: 57,054
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http://www.statesman.com/news/local/...xL2l9r6kwdEiM/
Quote:
Travis County strikes deal with developers over failed courthouse site
Taylor Goldenstein
5:00 p.m Tuesday, July 11, 2017
Travis County officials announced a deal Tuesday with a pair of developers who will build on the vacant county-owned block at 308 Guadalupe Street where officials originally hoped to build a new civil courthouse.
The lease with Lincoln Property Company and Phoenix Property Company, which plan to build a mixed-use project on the site, will bring Travis County nearly $430 million in lease payments over the next 99 years. Officials started looking for developers to buy or lease the site last year, after voters in 2015 rejected a bond proposition to build a courthouse on that site.
Travis County will receive an initial $13.4 million payment at closing on Wednesday. That money and the future revenue from the site will help officials pay for a new civil courthouse elsewhere, officials said.
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