In a recent government meeting, officials discussed a proposal for the purchase of a property previously listed for sale, aimed at enhancing affordable housing in Victoria. The property, located at 1004 South Navarro, was formerly a Boas Lodge and is situated near a school. The Victoria Housing Finance Corporation, a subsidiary of the City of Victoria, intends to acquire the property for $15,000, significantly lower than its current appraised value of approximately $152,000.

The city has already invested around $23,000 in demolishing the previous structure and cleaning up the site. The plan involves dividing the lot to facilitate the construction of two affordable homes by a local builder. This initiative is expected to not only improve the property but also return it to the tax rolls, generating future tax revenue for the city.

During the meeting, officials noted that while the property’s current tax liabilities amount to about $26,600, the acquisition would initially result in a loss of approximately $11,000 in taxes across all taxing entities. However, the long-term benefits of revitalizing the property and increasing its value were emphasized.

The proposal has already received approval from the city and the college, pending final consent from the county. If approved, this project marks a significant step towards addressing the affordable housing crisis in the area, with hopes that it will serve as a model for future developments.

Additionally, the meeting addressed the scheduling of a required Lone Star Governance workshop, which aims to enhance board governance and is necessary for eligibility for certain grants. The deadline for completing this training is December 1, and officials are working to finalize dates that accommodate the board's schedule.