But It Pays For Itself: City to Buy Parking Lot From Cockrells, Dealeys for Pacific Plaza Park

Way back in August, Megan wrote about the Park and Recreation Department's Planning and Design Committe's vote to spend $2.5 mil in '06 bond funds snapping up a piece of a parking lot that's supposed to be the future home of Pacific Plaza Park, one more piece of the Downtown Parks Master Plan. Problem was, the 18 owners of the property -- a whole 22,801 square feet located near the intersection of Live Oak and St. Paul Streets -- didn't want to deal; hence, a decision made a few months ago to condemn the parcel and just grab it using eminent domain.

Looks like the owners -- many of whom have last names familiar to longtime locals, among them "Cockrell" and "Dealey" and including a trust for the late Mary Alice Cockrell Dealey -- have finally settled. (Which is good news for City Hall, which really didn't wanna snatch land from anyone  named Cockrell or Dealey.) On Wednesday the city council will authorize spending $2,528,110 to snap up their part of the parking lot and put it with the other 1.6 acres already acquired for the future park. Far as the city's concerned, it's a win-win: Not only is it that much closer to having all the land for Pacific Plaza, but, according to the council agenda, "parking revenue will be reserved for future development of downtown parks." Which is good, since the city doesn't currently have the money to develop Pacific Plaza.