Well, yeah. Digging into the details, apparently someone else had thought about buying it (to keep it as a track) and ran into similar issues in their analysis a couple years ago about EPA issues. The trick with the current housing plan is that if College Station approves the MUD district for it, the city will issue bonds which cover dealing with the environmental issues (as well as the general buildout of utility infrastructure for sewer, water, etc), so the owner doesn't have to pay for the cleanup if he goes the MUD/housing route.
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