Travis County Commissioners didn't take any moves to block the planned purchase of a lot in downtown Austin, clearing the way for the deal to close tomorrow morning at 9 o'clock.
As KUT News reported two weeks ago, the county will pay $21,750,000 for the downtown block next to Republic Square Park.
County Judge Sam Biscoe says that’s half a million more than the appraised value. “But I think that the location, more than justifies that. Plus it’s the size that we need,” Biscoe told KUT. Next year the county will ask voters to approve a bond to fund construction of a new civil courthouse on the land. But even if that fails, Biscoe says the property makes a good investment. If need be, the land could be resold or leased. It will also provide some revenue through paid parking. “And I understand that the parking now generates more than $300,000 a year,” said Biscoe.
Here's a map showing exactly where the plot of land is located.
View Travis County land buy in a larger map
