Ordinance #12,149

AN ORDINANCE AUTHORIZING MAYOR FRIDAY ELLIS TO ENTER INTO AN OPTION TO LEASE AND LICENSE AGREEMENT WITH SILICON RANCH CORPORATION FOR 223.06 ACRES OF PROPERTY LOCATED AT THE MONROE REGIONAL AIRPORT AND FURTHER PROVIDING_WITH RESPECT THERETO:    

WHEREAS, the City of Monroe is the owner of 223.06 acres of property located at the Monroe Regional Airport, as more particularly set out in the attached Option to Lease and License Agreement (“Agreement”); and

WHEREAS, Silicon Ranch Corporation (“Silicon Ranch”) is interested in developing, constructing, installing, and operating a solar electric generating system on the 223.06 acres of property owned by the City of Monroe for the production and distribution of electricity; and

WHEREAS, the City of Monroe desires to enter into an Agreement with Silicon Ranch for the lease of 223.06 acres of property located at the Monroe Regional Airport, as more particularly set out in the attached Agreement; and

WHEREAS, a Lease Analysis was prepared by Robbie McBroom with Delta Appraisals on October 20, 2022, which is attached.

NOW, THEREFORE BE IT ORDAINED by the City Council of the City of Monroe that Mayor Friday Ellis is hereby authorized to enter into the attached Option to Lease and License Agreement with Silicon Ranch Corporation as per the terms and conditions set forth in the Agreement and  authorized to execute any necessary documents related to the Agreement.

This ordinance was INTRODUCED on the 14th day of February 2023.

NOTICE PUBLISHED on the  17th & 24th  day of  February   , 2023 and March 3, 2023.

This Ordinance having been submitted in writing, introduced, and published was then submitted to a final vote as a whole, the vote thereon being as follows:

AYES:  Harvey, Ezernack, Woods,  Marshall & Dawson

NAYS:  None.

ABSENT:  None.

And the Ordinance was declared ADOPTED on the  14th day of  March, 2023.