By Larissa Dudkiewicz
Beaver County Commissioners plan to lease a combined 978 acres of county-owned property in Old Economy and Brush Creek parks.
Andrea Cantelmi, assistant county solicitor, said details about terms in the lease agreement with Penn Energy Resources are not being made public, but will be released in the near future. Commissioners met privately earlier this week to discuss the agreement.
“We haven’t executed the lease yet. That’s why I have the ad in the newspaper. We’re getting ready to," she said.
Beaver County Commissioners plan to lease a combined 978 acres of county-owned property in Old Economy and Brush Creek parks.
Andrea Cantelmi, assistant county solicitor, said details about terms in the lease agreement with Penn Energy Resources are not being made public, but will be released in the near future. Commissioners met privately earlier this week to discuss the agreement.
“We haven’t executed the lease yet. That’s why I have the ad in the newspaper. We’re getting ready to," she said.
This public notice appeared in the Beaver County Times on Tuesday, Sept. 9.
Commissioner Joe Spanik told the Beaver County Times after meeting Tuesday that the leased property is projected to bring a one-time $3 million payment and that royalty payments are still being worked out.
Old Economy Park is situated in Economy Borough and Harmony Township. Brush Creek Park is located in Marion Township.
Cantelmi said the lease can be “a significant revenue source for the county." The county is also exploring the possibility of leasing Bradys Run Park in Brighton Township, but she said no decisions have been made.
“Generally speaking, there is what's called an up front bonus. When you sign the lease you get a certain amount of money," she said. "When they actually drill and market the gas or the byproducts from the gas...you get a percentage of that in royalties.”
Additional processes -- acquiring proper state permits, presenting plans to local municipalities -- also have to take place before drilling could begin, Cantelmi said.
Cantelmi said there have been many discussions leading up to this point. She said commissioners will likely have the contract with Penn Energy on the agenda for the Thursday, Sept. 24 meeting at 10 a.m.
Cantelmi said visitors are permitted to speak to commissioners for three minutes at the beginning of regular meetings. Letters to the commissioners are also welcome, she said. Wednesday work sessions are open to the public, but there is no period for visitors to speak.
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Old Economy Park is situated in Economy Borough and Harmony Township. Brush Creek Park is located in Marion Township.
Cantelmi said the lease can be “a significant revenue source for the county." The county is also exploring the possibility of leasing Bradys Run Park in Brighton Township, but she said no decisions have been made.
“Generally speaking, there is what's called an up front bonus. When you sign the lease you get a certain amount of money," she said. "When they actually drill and market the gas or the byproducts from the gas...you get a percentage of that in royalties.”
Additional processes -- acquiring proper state permits, presenting plans to local municipalities -- also have to take place before drilling could begin, Cantelmi said.
Cantelmi said there have been many discussions leading up to this point. She said commissioners will likely have the contract with Penn Energy on the agenda for the Thursday, Sept. 24 meeting at 10 a.m.
Cantelmi said visitors are permitted to speak to commissioners for three minutes at the beginning of regular meetings. Letters to the commissioners are also welcome, she said. Wednesday work sessions are open to the public, but there is no period for visitors to speak.
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