03-11-2024 RPT 07 - Laserfiche WebLink

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WATER ENERGY LIFE CITY OF RjVEIZSIDE lag PUBLIC UTILITIES RIVERSIDE PUBLIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: MARCH 11, 2024 SUBJECT: APPROVE THE LICENSE AGREEMENT WITH W -H GT OWNER IX, L.P. FOR USE OF CITY -OWNED LAND ON A PORTION OF THE RIVERSIDE WATER COMPANY CANAL LOCATED AT 21801 BARTON ROAD, CITY OF GRAND TERRACE, FOR A TWENTY -FIVE-YEAR TERM AND TOTAL REVENUE OF $270,824.51 ISSUE: Approve the License Agreement with W -H GT Owner IX, L.P., for use of City -owned land on a portion of the Riverside Water Company Canal located at 21801 Barton Road in the City of Grand Terrace, for a twenty -five-year term and total revenue of $270,824.51. RECOMMENDATIONS: That the Board of Public Utilities recommend that City Council: 1. Approve the License Agreement (Attachment 1) with W -H GT Owner IX, L. P., for use of a portion of the Riverside Water Company Canal, also known as Assessor's Parcel Number 1167-121-08, for a twenty -five-year term —total revenue of $270,824.51; and 2. Authorize the City Manager, or his designee, to execute the License Agreement, including making minor and non -substantive changes, and to sign all documents necessary to complete the transaction. BACKGROUND: On May 23, 1961, a Final Order of Condemnation was hereby ordered, adjudged and decreed in favor of the City of Riverside (City) for the Riverside Water Company Canal (Riverside Canal). This included Assessor's Parcel Number 1167-121-08, formerly used for the purpose of conducting, storing, supplying and distributing water to and for the use of the City. Currently, the City utilizes this property for the operation and maintenance of an underground pipeline that conveys non -potable water. On March 28, 2022, W -H GT Owner IX, L. P. (Licensee) purchased the surrounding property which is adjacent to the Riverside Canal property. A majority of the Licensee's property is on the westerly side of the Riverside Canal with a small portion on the easterly side of the canal.