Why is the BRA moving forward with divestiture even though the BRA previously determined that divestiture was not a realistic option?
In 2007, legislation was filed in the Texas Legislature which would have required the BRA to divest of its residential leased property at PK. In response, the BRA Board passed a resolution stating they would not oppose the legislation. When the proposed divestiture legislation failed to become law, the Board acknowledged that divestiture was unavoidable and passed a resolution to begin a voluntary divestiture process.
