San Antonio Express-News Day 2
Monday, 17 October 2005
Everyone knows the real-estate mantra, "Location, location, location."
The city learned the hard way that land values also can skyrocket if an owner dodges strict ordinances under the Texas vested rights law.
Rules that protect trees and limit development can hurt a landowner's bottom line.
Grandfathered projects that avoid those rules can generate handsome profits.
After voters approved $135 million in two separate sales tax propositions to buy sensitive land over the Edwards Aquifer recharge zone, some properties were too expensive for the city to buy.
The sellers had secured exemptions to city codes.
See the Express News for the full article