File #: 26-0187    Version: 1 Name:
Type: Resolution Status: Future Agenda
File created: 1/30/2026 In control: City Council
On agenda: 2/10/2026 Final action:
Title: Resolution authorizing execution of a Groundwater Rights Purchase and Sale Agreement with ERF Real Estate, Inc. to purchase 2478.69 acres of groundwater with access rights, six water wells and pipeline easements in the amount of $28,000,000.00, with $200,000.00 due within three days of executing the contract and the remainder due one year after closing, with closing to occur within 60 days of executing the contract.
Sponsors: Corpus Christi Water
Attachments: 1. 26-0187_Agenda Memo - Groundwater Rights Purchase and Sale Agreement, 2. 26-0187 Resolution - Groundwater ERF, 3. 26-0187 GW Rights Purchase Agmt, 4. 26-0187 Presentation CCW Groundwater Rights Purchase Sale and Agreement
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Title

Resolution authorizing execution of a Groundwater Rights Purchase and Sale Agreement with ERF Real Estate, Inc. to purchase 2478.69 acres of groundwater with access rights, six water wells and pipeline easements in the amount of $28,000,000.00, with $200,000.00 due within three days of executing the contract and the remainder due one year after closing, with closing to occur within 60 days of executing the contract.