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Council approves issuance of three RFPs to test leasing city-owned subsurface mineral rights
Summary
The council approved recommendations from outside counsel to issue three requests for proposals covering city-owned subsurface minerals under several parks and rights-of-way, with a minimum bid set at $10,000 per acre; staff said bids are not guaranteed.
The Odessa City Council authorized staff to issue three requests for proposals seeking leases of subsurface minerals the city may own beneath portions of public property and parks. Steve, identified in the agenda as outside counsel, told the council the firm had identified three tracts for possible city-owned fee mineral interests: about…
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