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Liberty County approves up to $151,000 to complete property trade with First Liberty Bank
Summary
The Liberty County Commissioners Court authorized payment of up to $151,000 to First Liberty Bank to cover the difference in an in‑kind property trade and estimated closing costs.
The Liberty County Commissioners Court on a unanimous vote authorized up to $151,000 to First Liberty Bank to cover the value difference and closing costs related to an in‑kind property exchange.
County Attorney Matthew Poston told the court the appraisal of 311 Travis Street returned at $39,390,000 and the appraisal for 1801 Trinity Street came back at $250,000, producing a difference of $140,000. He said brokers estimate $8,000 to $9,000 in closing costs and asked the court to approve up to $151,000 “just in case there's a slight difference.”
The motion to approve the payment was offered by Greg (Commissioner) and seconded by Gerald (Commissioner). After no further discussion the court voted in favor.
The action will allow the county to complete the in‑kind trade and avoid returning to court for a small adjustment to cover closing costs.
No additional details about the properties, including parcel numbers or the planned use of the acquired site, were provided during the discussion.
