AUSTIN - Austin ISD could soon be getting more than $60 million in revenue from property sales.
The district's trustees will be voting on the sales at its Monday night board meeting.
Among them is a bid from Alamo Drafthouse to build a single-family development at the current Baker Center -- that’s in the Hyde Park area on Avenue B between 39th and 40th streets.
The district said it is facing budget challenges. So the sale of its properties could provide a boost and also fund the purchase of a new property for its administration center.
The board will be voting on a contract to purchase the Southfield Building. That’s at the intersection of Ben White and I-35 near Walmart.
The district’s chief financial officer said having its administration there would better serve its communities.
“It’ll allow us to organize under one roof in a way that’s more efficient than just the way we’re situated today across multiple sites,” said AISD Chief Financial Officer Nicole Conley Johnson. “As well as allow students and families better access to parking.”
Austin ISD said it would buy the new property partially with funds from the sale of its old properties. The district said the cost would be substantially less than repairing its current administration center and the Baker Center.
The board will be voting on the sale of five properties: The Baker Center; its current administration center; the Millett Opera House and tracts of land on Tannehill Lane and Doris Drive.
Alamo Drafthouse is interested in the Baker Center location.
If approved by the board and Alamo Drafthouse gets the bid, 25 percent of their units have to meet affordable housing guidelines. That’s 60 to 120 percent MFI (fedian family income), with 120 percent being the highest possible amount.
Those units would also be marketed to Austin ISD employees and families with kids attending AISD.
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