A KTRH-740 newsbreak reported that a settlement has been reached between the city and the Center Serving Persons with Mental Retardation. Details are to be announced at a press conference this afternoon, according to KTRH.
A Friday afternoon press conference -- of course!
UPDATE (4:20 p.m.): The Chronicle's Melanie Markley has more:
The Center Serving Persons with Mental Retardation will pay the city $6 million for prime inner city property it now uses in exchange for the services it provides, city officials said today.
Mayor Bill White and officials of the facility are announcing details of the transaction, which involved 6.2 acres at Shepherd and West Dallas, during a news conference this afternoon.
Details of the deal were not immediately available, but it involves a favorable interest rate and a discounted price based on the city's declaration that the land is intended for public service rather than commercial use, according to a news release from the city.
MORE: Don't you love the wording above from the city (which I have now bolded)? It isn't hard to figure out that the "discounted price" is nowhere near as favorable as the previous arrangement, which had been honored for decades, by previous Houston mayors.
Nice going, Mayor White: You've squeezed millions of dollars from the folks who provide a service the city couldn't provide nearly as efficiently or effectively. That's quite an achievement!