North Richland Hills TX agrees to mineral rights lease of park land to Chesapeake Energy:
The City Council agreed this week to lease the mineral rights on 143 acres of parkland to Chesapeake Energy, although much of the property was merely being re-leased after the original terms expired.The city will receive a bonus of $5,000 an acre, amounting to $716,700, and 25 percent royalties under the terms of the three-year lease.
The acreage includes Fossil Creek, Green Valley and Linda Spurlock parks; a portion of the Iron Horse Golf Course; and the city service center, which houses public works, the animal shelter and fire administration.
