Cash-strapped Houston sells off $2M worth of city streets 

The city of Houston held a yard sale of sorts last week, dusting off some possessions it doesn’t use anymore and offering them for sale or swap to its neighbors. In this case, City Council approved selling or swapping almost $2 million worth of city streets and utility easements. That won’t correct the more than $100 million budget deficits city officials project for the next five years, but it’s not peanuts. The first example came in Manchester, where council abandoned and sold several streets and easements to the adjacent Valero refinery for $1.4 million.The oil giant already owns the blocks immediately surrounding its facility, and the move will let the company assume the intersecting streets onto its land as part of a plan to build an office building, warehouse, security building and to add parking farther away from the central plant.

Source: Cash-strapped Houston sells off $2M worth of city streets – Houston Chronicle

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