TheNiche Posted June 7, 2012 Share Posted June 7, 2012 So...it hasn't been that long since the last renovation of HPD's headquarters tower at 1200 Travis, and it is on the market for sale. This is apparently to satisfy pension holders, which have a lien on the property. I have to say, this sounds frickin' stupid. I hope that they're at least trying to structure a sale-leaseback arrangement, which should be lucrative for them since the property will remain exempt from property taxes for as long as they maintain their presence there, and given that that would result in a higher sale price.HOWEVER...in addition, they seem to want a sprawling new campus at the corner of Houston and Washington Ave. I also think that sounds frickin' stupid. Granted, the facilities are very dated, however if anybody is going to build an expansive automotive repair facility, I'd like to suggest some less expensive dirt. The courts and the jail can go on more expensive dirt with structured parking that is engineered to accommodate additional level and offices above that in the future (in case the City should continue growing); that'll be fine if they do so compactly and sell off the residual land to a developer.http://www.chron.com/news/houston-texas/article/New-downtown-campus-on-HPD-wish-list-3615043.php Link to comment Share on other sites More sharing options...
Subdude Posted June 7, 2012 Share Posted June 7, 2012 Rather than sell 1200 Travis to satisfy the pension lien, and then issue bonds for a new "campus", could they not just use bond proceeds to pay the pension lien? Why is it they need a "campus" anyway? Maybe this is the time for the city to take up the reputed offer for the old Exxon building. No doubt that could be the tallest police HQ in the country. Link to comment Share on other sites More sharing options...
Pleak Posted June 7, 2012 Share Posted June 7, 2012 Rather than sell 1200 Travis to satisfy the pension lien, and then issue bonds for a new "campus", could they not just use bond proceeds to pay the pension lien? Why is it they need a "campus" anyway? Maybe this is the time for the city to take up the reputed offer for the old Exxon building. No doubt that could be the tallest police HQ in the country.When I heard the story on the news, this is the first thing I thought of also. Link to comment Share on other sites More sharing options...
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