Section 451.155 - Transfer of Real Property in Station or Terminal Complex(a) An authority may transfer to any person by any means, including a sale or lease, an interest in real property in a station or terminal complex and may contract with respect to it, in accordance with the comprehensive transit plan approved by the board and subject to terms:(1) the board finds to be in the public interest or necessary to carry out this section; and(2) the instrument transferring the title or right of use specifies.(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive transit plan.(c) A person from whom property offered for sale under this section was acquired by eminent domain or the threat of eminent domain has a first right to purchase the property at the price for which the property is offered to the public.Tex. Transp. Code § 451.155
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.