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Cinnamon

Cash-strapped Houston sells off $2M worth of city streets

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The city of Houston held a yard sale of sorts last week, dusting off some possessions it doesn't use anymore and offering them for sale or swap to its neighbors. 

In this case, City Council approved selling or swapping almost $2 million worth of city streets and utility easements. That won't correct the more than $100 million budget deficits city officials project for the next five years, but it's not peanuts. 

The first example came in Manchester, where council abandoned and sold several streets and easements to the adjacent Valero refinery for $1.4 million.

The oil giant already owns the blocks immediately surrounding its facility, and the move will let the company assume the intersecting streets onto its land as part of a plan to build an office building, warehouse, security building and to add parking farther away from the central plant.

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http://www.chron.com/news/politics/houston/article/Cash-strapped-city-sells-some-streets-11213664.php

Is there a single city in the U.S. (or county or state) that is not "cash strapped"?  Wait until pensions are defaulted upon.. and municiple bonds that are "guaranteed" no matter what ( how can that be? if there's no money there is no money, that's how it works in my checking account!). 

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