With the sale of Indeed Tower in downtown Austin, the Teacher Retirement System is no longer obligated to cover the upscale property’s large lease bill.
“I can’t afford to live near where I teach because I need to make at least $65,000 to live near Austin. But I only make $6,000 more than when I started teaching 15 years ago.”
With the Chinese coronavirus freezing the commercial real estate market, will TRS be able to sublease its $326,000/month Austin lease by next summer?
How much would free college cost?
At yesterday’s board meeting, trustees voted to remain at their current location and sublease the space at Indeed Tower instead.
Making tough decisions to fix the state’s ongoing pension problems will be a large part of the ongoing narrative heading into the 86th Legislature.
Will the establishment stand up in support of responsibly prioritizing how your tax dollars are spent?