THIS is why the Big XII(X) should be a non-starter for you. It's a conference on the outs, ran by a school (Texas) that doesn't have any concern for the conference as a whole.
Stay away from UT-Austin, far away. What seems like a good idea really isn't. Face it, with lesser facilities and budget you won't be able to compete with the OU and UT-Austin's of the world. Sure, maybe in the 70's and 80's you could, but this is a different football landscape in a different world for College sports. A move to the Big XII(X) is not athletic Nirvana, it's athletic suicide.
What to do now?
Start having conversations with the Big East. Not only are those school's budgets and facilities much more in line with yours, but you also have a travel partner (and instant rival) in TCU that will ease the costs.
Leave the Big XII(X) disintegration to UT-Austin, let them own it and have fund doing it.
Go East young people, and prosper out there.
