Any updates on if UT has sold that land yet?
I’d ask RKator And senator whitmire to inquire about it. We need pressure on them to sell. I emailed them quite often on this.
Dr Renu Khator at
President@uh.edu
&
Senator whitmire at
John.whitmire@senate.state.tx.us
It helps with more people asking
I doubt it’s sold since UT would lose money on the sale. It would be hard for the administration to explain why they so greatly overpaid for the land.
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It’s up for sale but not sold yet but they are paying 10 mil or taxes per yr to hold it
Holy sh*t! $10 million of public money…?
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yeah they have to taxes to hold it until sold. They waste so much money which is why the state even told them if you go thru with this we’re cutting your funding so UT backed off and it’s up for sale but no buyers yet
Do all universities pay property taxes on their land and buildings (campus) ? Or is only their undeveloped land subject to local school and county
property tax ?
Did I read somewhere that that property has a huge environmental remediation problem because it used to be an oilfield?
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I did read they have to pay taxes on it prop bc it’s undeveloped with no purpose and it was an oilfield and has environmental issues but can be cleaned up.
I’m sure they’re getting it written off somehow or rolled over.
This is what they’re hoping for
Specifically, the UT System will look into the possibility of entering into an arrangement similar to a joint venture with one or more commercial developers," Adler said. "The UT System believes it can maximize a long-term financial return under this plan, adding value to the adjacent property that JLL will market for sale or lease.
They can’t sell if there is no one willing to buy.
I’m sure most following this thread already know this, but for those who don’t, McRaven’s rationale for quickly buying the land without getting permission was that the price was too good to pass up and he had to jump on it before someone else got it.
I don’t want to accuse him of lying but he was obviously very, very wrong about that.
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Pure speculation on my part, but I think he wanted to make a big impact and have a legacy. I suspect he was being advised by others in the ut universe/
administration and probably being given bad advice.
Or maybe it’s all on him. But him being an ex-military guy, I suspect he would shoulder the entire episode and never pass blame.
Whatever the real story is, it needs to be sold ASAP.
Cut loses and move on.
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I’ll email mayor turner and pitch to him to have the city buy the land for the new astroworld.
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Just emailed the mayor
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I can see that.
I don’t think McRaven is a bad guy. I think he made a lousy decision and used a lousy decision making process on this.
Agreed that they just need to take what they can get and move on.
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They’re not gonna sell the land for cheap and they’re also trying to keep it and partner with someone. I doubt we’ll get to see the day they sell it.
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I blame McRaven. He bought a large track from a large donor without proper vetting. You don’t do something like that unless you are stupid (which I don’t think he is) or you are pulling a fast one.
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He was pulling a fast sneak army attack on UH.
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