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Friday, October 31, 2014

Marietta Continues to Take Its Time Considering Lease of City Property

From Shale Play:
The single bid received by the city to lease mineral rights on two pieces of Marietta property was reviewed by members of council late last month during a meeting of council's lands, buildings and parks and finance committees. 
The bid, submitted by MNW Energy LLC, would give the city the option to earn more than $183,000 - $4,750 an acre - by leasing rights at Goose Run and at Gunlock Park between Lowe's and Wal-Mart. The city would also earn a 17.5 percent royalty on any earnings made over the five-year lease term, said city safety-service director Jonathan Hupp. 
City Councilman Steve Thomas, D-3rd ward, said he is supportive of leasing the rights. 
"I'm good with it. We need the money. And it's not going to be disturbing the ground," said Thomas. 
Read the rest of the article by clicking here.

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