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Council hears detailed update on GMC Trust water-storage project, asset values and next steps
Summary
Tuttle and Blanchard are working through asset valuations and governance details for the proposed Grady-McClain County (GMC) Trust project to provide additional water storage and a future 24-inch supply line; council members discussed valuation differences, funding options and long-term implications for local water supply and development.
Mayor McLeroy and staff presented a detailed update on the Grady-McClain County (GMC) Trust, a public trust formed by the City of Tuttle and the City of Blanchard to develop water infrastructure including a roughly 1,000,000-gallon storage tank and a future 24-inch supply line across the river.
Engineered valuations presented to the two cities estimate Blanchard's contributed water-infrastructure assets at roughly $4.9 million versus Tuttle's roughly $1.0 million (a difference of approximately $3.9 million). The council discussed whether the assets should be accepted as-is into the trust or adjusted so each city becomes a 50/50 beneficiary going forward. Staff emphasized these engineer-supplied values are preliminary and will be reviewed and negotiated by both cities before any final transfer or dedication of assets occurs.
Council members also discussed funding approaches — federal/state grants, shared debt, wheeling charges and differential cost-sharing — and how the trust would sell and price water (the trust would buy water from Oklahoma City and re-sell to participants). The mayor said the storage facility is estimated at roughly $10 million; the trust has applied for external funding and appointed a grant coordinator. No final fiscal commitments were made at the meeting; both city councils will need to approve valuation determinations and any asset transfers to the trust in later sessions.
