SUBJECT:
Title
A Resolution of the Town Council of the Town of Erie Approving a Professional Services Agreement with Alameda Mineral Advisors
Department
DEPARTMENT: Environmental Services
Presenter
PRESENTER(S): David Frank, Director of Environmental Services
Time
TIME ESTIMATE: 30 minutes
end
For time estimate: please put 0 for Consent items.
Fiscal
FISCAL SUMMARY:
Approving the Agreement with Alameda Mineral Advisors has no upfront cost to the Town. Alameda is only compensated if the Town Council approves a sale or lease of its mineral estate, with a 7.5% commission of the final transaction value. The Town avoids any financial risk until Council agrees to a transaction, if/when that occurs. Any future revenue will flow to the General Fund or another designated fund as determined by the Town Council.
Policy
POLICY ISSUES:
This item supports the Town Council's priority for fiscal responsibility. It gives the Town a competitive valuation of its mineral estate, strengthens negotiations, and ensures any future transaction, if any, reflects real market value. Alameda's experience in the DJ Basin improves transparency in the process. Their work includes title verification, market analysis, valuation modeling, and competitive bid management, which provides the public with clear information about potential revenue opportunities. This supports open decision making during future hearings or resolutions involving mineral assets.
Recommendation
STAFF RECOMMENDATION:
Approve the Resolution authorizing the Town to enter into a Professional Services Agreement with Alameda Mineral Advisors for the purpose of evaluating the potential value of certain mineral rights owned by the Town of Erie, to solicit bids, and to advise the Town in negotiations involving potential sale, lease, or conveyance of those assets.
Body
SUMMARY/KEY POINTS
* The Town of Erie owns extensive mineral rights attached to certain parcels within the Town's Municipal Boun...
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