Email from Wildgrass HOA to City: “Wildgrass Oil and Gas Lease – Correction”

Wildgrass HOA sent this email to the City on February 8 in response to a statement made at the January 22 City Council meeting by a City official.  Wildgrass HOA President Bill Young presented the email during Public Comments at the February 12 Council Meeting. 

“Fri, Feb 8, 2019 at 12:10 pm” 

“Mayor, Council, and Staff –‘‘ 

“At the Jan 22 City Council meeting it was incorrectly stated that the Wildgrass HOA netted close to $250K from an oil & gas lease.  Although we are not in a position to disclose the exact amount negotiated in the lease agreement, we can assure you that it is far less than $250K and for that matter, the number that you presented was off by well over $100K.” 

“We request that you publicly correct the record at the next council meeting to reflect that the number presented was incorrect and significantly inflated and that the Wildgrass HOA only reluctantly negotiated as the other option we faced was to be force pooled.  We did not enter into this lease agreement lightly, in fact it was not an easy decision at all.  Our other option was to be force pooled, which we did indeed consider.  We were counseled and ultimately, we felt it was our fiduciary duty to take what was presented to be the safer and more lucrative option of signing a lease.  We feel it is important to clarify our position as this is a very important issue to our Wildgrass residents.”   


Bill Young

President, Wildgrass HOA”