WEDC Terminates Restrictive Covenants!!

My take on the WEDC during the July 18, 2013 meeting concerning the 111 acres.  The Declaration of Restrictive Covenants was made August 2, 2007 and filed at Bexar county 0n August 20, 201.  list This list the restriction on the 111 acres, such as prohibiting trailer parks, adult clubs, anything that generates lots of noise etc, a shopping list of prohibited uses for the 111 acres.  Now there are No restrictive covenants.    

Background:

 Jan 23, 2008, WEDC originally paid $17,179,045.03 for the 111 acres from Windcrest Revitalization Partners II, LLC (Actually Gary Cain & Company paid it I think) But according to the spin, I understand the city was possibly under obligation for the total $17 Mil.  Any way later the 111 acres went into bankruptcy.

Jan 3, 2012 - Stafford Properties or SLF IV Eisenhauer Point, LP purchased the 111 acres from Bankruptcy for a cool $6,200,000 (what  a discount!!!)

Well, Thursday evening Stafford asked theWEDC to terminate the covenants on the property.  The WEDC did just that.   WEDC passed a motion to terminate the declaration of Restrictive Covenants to the 111 acres. Done!

It appears Stafford was saying that by purchasing the property from Bankruptcy that  terminated the Declaration by operation of law.  I guess they are saying buying from bankruptcy null in voids and declaration of covenants.  If  that  

Is the case, why the motion to terminate?   I’ll let you ponder the reasons.