This month EPISD sold a little over 7 acres of land that they declared surplus to our local housing authority.
State law allows them to sell to another public entity without taking bids. They sold the property for a somewhat over one million dollars. The board material indicates that they property was appraised at the value they sold it for. Who knows what they could have gotten on the open market.
The board was clever in that by selling to the housing authority they are almost certain to ensure that children from the housing complex will attend EPISD schools. That will increase income since Texas pays the district for every day a child attends school. Enrollment at the district has been falling off dramatically.
Unfortunately EPISD will not get the benefit of property taxes from the sale as they would have if the property had been sold to a developer who then put houses on the land.
Local property taxes account for roughly 30% of the district’s revenue.
We deserve better