Subscribe to the Houston Chronicle I Shopping I Classifieds I Obits I Place an Ad I La Voz Wednesday Jonuory 22, 2014 Like '6sk] Register I Sign In 67'F Mostly Cloudy 1 Houston Weather ... ® Chron.com 0 Local Directory Home I Local I US & World I Sports I Business I Entertamment I Lifestyle I Jobs I Cars I Real Estate BREAKING NEWS Police believe missing Houston teen abducted, in danger Pollllcs > News > Houston Politics Controversial property to hit the market again By Jayme Fraser I January 15, 2014 Comments 0 E-ma1l Pnnt Tweet -4 The Harris County Housing Authority again win attempt to sell a 91-acre Lake Houston property tied to a failed veterans housing development and at the center of two scathing federal audits. 'With the sale of this property, I expect to be able to pay HUD the lull amount we owe from mismanagement of the prior administration; authority CEO Tom McCasland said. A previous attempt to sell the lakeside land was unsuccessful. Last June, McCasland said real estate professionals had told him the land, originally purchased lor $6.5 million in 2009, may be worth as little as $3.6 million because part of the tract includes wetlands. The listing was removed, and the housing authority worked to make the property more desirable. The agency arranged lor sewage to be processed at a nearby treatment plant and adapted the wetlands mitigation plan to increase the usable acreage to about 7 4 acres. Whatever money the county agency does recoup from the sale likely will be sent to the U.S. Department of Housing and Urban Development as a payment toward the millions of dollars the federal agency demanded be repaid last year. Two audits released in June by separate offiCes of the federal housing agency former housing authority leaders mismanaged up to $27.5 million in federal housing funds during a three-year period ending in April 2012. The county agency contends that alter cleaning up its books, it can show it owes much less than that. Real Estate Investing lilestylesunlimiled com/Real. .. Leam How Retire 5 Years From Now. Get Our $300 Starter Kit For Freel What's My House Worth? www.housevalues.com Get a Free Houston Home Value Estimate From a Local Expert! Contribute to this story: Send us a tip Suggest a Correction CommentsO l. Jayme Fraser I Reporter Email Me ... You Might Also Like Punt Garcinia Cambogia Warning consumersgUides com Shocking! Here's What Happened When We Tested Tweet 4 - i ,) , .. '!...- MO$(£TECH ' - SAVJNGS If'S _ ELECTROflCS, SHOP NOW Who Was the Drunkest at the Golden Globes Last Night? (lloJiyKf.u(l} Woah! Who's the Gorgeous Blonde in Luke Bryan's 'Crash My Party' Video? (Country \\ t•cJ.Iy) 8 Chinese Dishes You , Need to Know • .,. .... (Zog:tl\ Local Headlines Putting Junior First: Make Golf Engaging Again for Junior Golfers Coif School Guidel Mayor reports response to her maniage as largely positive County drops request to temporarily keep Wilson from HCC post Bresnen vs. MQS: the Texas ethics throwdown Stockman House campaign returns donations, reports PAC contributions State finalizes rules for Obamacare navigators Whitmire claims opponent does not live in district Texas school finance fight back in court AG weighs in on same-sex benefits lawsuit against city Texas 'Dark Money' debate mundled Dewhurst vies for tea party street cred
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Subscribe to the Houston Chronicle I Shopping I Classifieds I Obits I Place an Ad I La Voz
Wednesday Jonuory 22, 2014
Like '6sk] Register I Sign In
67'F Mostly Cloudy 1 Houston Weather
~----~~--~ ... ® Chron.com 0 Local Directory
Home I Local I US & World I Sports I Business I Entertamment I Lifestyle I Jobs I Cars I Real Estate
BREAKING NEWS
Police believe missing Houston teen abducted, in danger
Pollllcs > News > Houston Politics
Controversial property to hit the market again By Jayme Fraser I January 15, 2014
Comments 0 E-ma1l Pnnt Tweet -4
The Harris County Housing Authority again win attempt to sell a 91-acre Lake Houston property tied to a failed
veterans housing development and at the center of two scathing federal audits.
'With the sale of this property, I expect to be able to pay HUD the lull amount we owe from mismanagement of
the prior administration; authority CEO Tom McCasland said.
A previous attempt to sell the lakeside land was unsuccessful.
Last June, McCasland said real estate professionals had told him the land, originally purchased lor $6.5 million
in 2009, may be worth as little as $3.6 million because part of the tract includes wetlands.
The listing was removed, and the housing authority worked to make the property more desirable. The agency
arranged lor sewage to be processed at a nearby treatment plant and adapted the wetlands mitigation plan to
increase the usable acreage to about 7 4 acres.
Whatever money the county agency does recoup from the sale likely will be sent to the U.S. Department of
Housing and Urban Development as a payment toward the millions of dollars the federal agency demanded be
repaid last year.
Two audits released in June by separate offiCes of the federal housing agency cor~eluded former housing
authority leaders mismanaged up to $27.5 million in federal housing funds during a three-year period ending
in April 2012. The county agency contends that alter cleaning up its books, i t can show it owes much less than
that.
Real Estate Investing lilestylesunlimiled com/Real. ..
Leam How Retire 5 Years
From Now. Get Our $300 Starter Kit For Freel
What's My House Worth? www.housevalues.com
Get a Free Houston Home
Value Estimate From a Local
Expert!
Contribute to this story: Send us a tip Suggest a Correction