Chron: Former councilman looks to clean up on city's Dynamo boondoggle
Related to Anne Linehan's post from Sunday -- today the Chronicle reported additional interesting details on Mayor White's proposed giveaway to the Houston Dynamo:
Houston has offered more than $15.5 million to buy five downtown blocks that could be a future site of a Dynamo soccer stadium.
The city council could vote on the deal this Wednesday. The purchase price assumes the land is worth $49 per square foot, almost quadruple the assessed value of $12.50 per square foot, according to Harris County Appraisal District records.
The five blocks are owned by various corporate entities controlled by former Councilman Louis Macey. To acquire a sixth block, owned by a different company, the city has offered to swap a block nearby that it already owns.
What a potential windfall for a former councilman!
Sorry, but this highly lucrative insider wheeling and dealing doesn't quite pass the smell test (even though the local media continually remind us that Mayor White's administration is the most ethical since... well, maybe ever!).
Posted by Kevin Whited @ 02/18/08 10:27 PM | Houston Miscellany | Technorati | Sphere | Comments (10)
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