City to Sell East 12th Properties
By Carlos Romero
The Austin Urban Renewal Board this afternoon voted to sell two tracts of property on East 12th Street in two different ways. The board had gotten a push from the federal Department of Housing and Urban Development to do something with the land.
The city will invite bids on the stretch of land on the 1100 block. For the lot on the 1300 block the city will request development proposals, and take into consideration what the developer plans on doing with it and how that could affect the neighborhood.
That means the board could take a lower bid if it thinks the development plan is a better fit for the area.
The board hopes to have both properties sold this fall. If not, HUD could intervene to move the process along, possibly by withholding some of Austin’s current housing funds until the land is sold.