Item 4EITEM 4E
Declare Aqua Texas property as surplus
RECOMMENDATION
Declare Aqua Texas property as surplus
Aqua Texas Properties
Background:
2004 Settlement agreement provisions
Southlake purchased Indian Creek and Lakewood Ridge water system assets for $60,000
Southlake pays Aqua Texas to continue providing water for five years
Environmental assessment
Southlake takes possession of the well site properties
Aqua Texas Well Site Properties
Aqua Texas Properties
Property Condition:
Production capacity less than 25-30 GPM
No viable Chlorination equipment
Municipal well production capacity should be 600-800 GPM
Well property locations not suited for commercial water production sites
Aqua Texas Properties
Financial Consideration:
Estimated cost to clear property and plug wells - $20,000
Based on adjacent land values
4429 Soda Ridge (0.172 acre) - $14,000
4552 Homestead (0.074 acre) - $6,000
Recommendation:
Declare Aqua Texas property as surplus and offer for sale as allowed by law
Questions?