City Council

10.\nAGREEMENT TO LEASE A PORTION OF THE CITY OF ALHAMBRA’S RAYMOND\nBASIN WATER RIGHTS TO THE HUNTINGTON LIBRARY – F2M9-62, M2M26-74\nThe City owns 1031 acre-feet of water rights in the Raymond Basin for Fiscal Year 2025-\n26. Respectively, the City pays $36,304.00 in assessment fees (annually) for water rights\nin the Raymond Basin. While the City does not have an operable production well located\nin the Raymond Basin, and while the City will not use its Raymond Basin water rights this\nyear (unused water rights are lost each year), the City has the option to lease its water\nrights to interested parties for a fee. The Huntington Library has offered to lease 100-acre\nfeet of the City’s Raymond Basin rights at $550.00 per acre foot for a total of $55,000.00\nfor the year.\nRecommended Action:\nCity Council authorize staff to enter into a lease agreement\nwith The Huntington Library, subject to final language approval by the City Manager and\nCity Attorney, for 100 acre-feet of water rights in the Raymond Basin for a total of\n$55,000.00; authorize the City Manager or designee to sign the lease agreement and\nrelated documents; direct the Finance Director to deposit the revenue from said lease into\naccount 401.00.00000.00000.449250; and, direct staff to undertake the steps necessary\nto finalize Council’s action. (M2M26-74)