posted on December 30, 2010 23:22
A Travis County plan to buy a downtown parking lot for $21.75 million will close Wednesday, according to published reports.
The Austin-American Statesman reported Tuesday that Travis County Commissioners raised no last-minute objections to the deal, setting the stage for a Wednesday 9 a.m. closing. The county last week said it would use the land near Republic Square Park for a new, 500,000-square-foot civil and family courthouse.
The purchase from the Austin Museum of Art would likely be paid through a bond election in 2011, the Statesman said. A county appraisal set the property value at about $13.8 million. Travis County Judge Sam Biscoe told the Austin Business Journal the city was one of several bidders for the property.
The AMOA lot was chosen after about a year of searching. Biscoe said the county had also considered the downtown federal post office site and areas around the Gardner Betts Juvenile Justice Center near Oltorf Street.
12/28/10, Austin Business Journal