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Meeting Date:	12/13/2021
Lease of School Lands to GrandSolar Solar Electric Project
Submitted for:	Nathan Bratton	Submitted By:	Nathan Bratton
Department:	Civil Legal Division

Subject:

Discussion and possible action to enter into a twenty-two (22) year lease ("initial lease term" - Two years for Development Phase and Twenty years for Construction and Operation Phase) of the Webb County School Lands (Cuchillas and Lomas Pastures) located off Highway 59, Webb County, Texas, with GrandSolar Texas Two, LLC (Lessee), if Lessee exercises options to extend the lease for an additional four (4), six (6) month terms during the “Development Phase” of the Project and two-five (5) year terms during the “Construction and Operation Term Phase” of the Project the total possible Lease Term (if all Options are executed) is Thirty-Four (34) years, for the purpose of constructing and operating a three hundred (300MW) megawatt Solar Energy Project on said school lands in the amounts of Twenty Five Thousand Dollars ($25,000.00) per year to lease the school lands during the “Development Term” escalating 1.5% annually during the Development Phase and payments during the “Construction and Operational Term” (remainder of the Lease Term) of Three Hundred Fifty Dollars ($350.00) per acre for the Project Foot Print (with guarantee “rent” payments for 1,900 acres) with said “rents” escalating 2% per year during the “Construction and Operational Term”, and any matters incident thereto. [Closed Session/Executive Session is requested pursuant to Government Code §551.0725 Deliberation Regarding Contract (Lease) Being Negotiated; Closed Meeting]

Background:

Grandsolar was selected, based on an Request For Qualifications, to develop the Webb County School Lands for Solar Energy Development.

Previous Court Action:

Fiscal Impact

Budget Account Number:	unkn
Funding Source:	unkn
Balance:	n/a
Financial Impact:
Revenue generated is for the sole benefit of the Webb County School Land Fund.