Houston Raising Money By Selling Off Streets
Facing a $100M budget deficit, the City of Houston has approved the sale of $2M worth of city streets and utility easements. The first was for several streets and easements adjacent to the Valero refinery in the Manchester area. Valero was the buyer; it already owns the blocks immediately surrounding the facility. The second deal was for five streets and a sewer easement around the Milby High School campus for $431K. Instead of cash, the buyer, the Houston Independent School District, is swapping the streets for a 7.5-acre tract near Clinton Park valued at $443K.