LCRA makes changes to purchasing combination lots

LCRA makes changes to purchasing combination lots

(May 16, 2023) ‑ The Land Clearance Redevelopment Authority (LCRA) board approved changes on selling combination lots during Monday’s meeting, while also approving the sale of several lots.

The changes involve only combination lots, where two or more properties are combined and then sold. The LCRA wanted to ensure that someone didn’t come in and buy the lots at a low price with the thought of selling them at a higher price.

To protect the lots, the LCRA agreed on a uniform procedure for selling the combination lots.

That includes:

  • The combination lots cannot be sold or conveyed to a third party without express consent of the LCRA for two years.
  • If there is no occupancy permit granted two years from closing, the LCRA has the first right of refusal to acquire the lots back.

The board said they would be willing to work with those who purchase the lots if building is slow, or problems arise. The main thing the board wants to see is the lots being redeveloped and not being sold and remaining unused or uncared for.

“We don’t want the lots back,” said LCRA board chairman Dan Marshall. “We want someone to build on them.”

After the changes were approved, the LCRA Board approved selling combined lots at 412 and 414 Dorothy to Amie Gardner for $1,000 per lot and lots at 710 and 712 Dorothy and 622, 624 and 628 Lanning to Extended Property Holdings for $1,000 per lot.

Also at Monday’s meeting, the LCRA:

  • Approved the sale of a lot at 401 Carroll to Otis Boone for $500.
  • Approved the sale of a lot at 501 Clayton to Patricia Jackson for $500.
  • Approved the sale of a lot at 417 W. Gladys to Kim Montjoy for $200.
  • Approved putting out to bid the demolition of the structure at 511 Hart.
  • Approved adding 1526 E. Gladys to the targeted list.