Res 025-2025 Setting Lease Rates for City-Owned Property for Lake Arrowhead and Lake Kickapoo 02/18/2025 Resolution No. 25-2025
Resolution setting the rates at Lake Arrowhead and Lake Kickapoo for
leases of City-owned property
WHEREAS, Resolution 77-2001 and Resolution 73a-94 established policies for re-
leasing Lake Arrowhead and Lake Kickapoo lots, respectively, with the lease agreements
designating a five-year review and adjustment of the annual lease rate; and,
WHEREAS, it has been determined that the current leases are still lower than the
fair market value and need to continue to be raised to better reflect the market rate.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1 . The annual lease rate for lease lots at Lake Arrowhead with review dates
originally in 2024, which are currently leased for $1 ,000.00, $2,000.00,
$2,800.00, and $3,000.00, shall increase by 30% to $1 ,300.00,
$2,600.00, $3,640 and $3,900.00 per year for the next four-year period
beginning June 1 , 2025, and September 30, 2025.
2. The annual lease rate for lease lots at Lake Kickapoo with review dates
originally in 2024, which are currently leased for $1 ,000.00, $1 ,500.00,
$1 ,584.00, $1 ,666.00, $2,000.00, $2,045.00 and $2,058.00, shall
increase to $1 ,100.00, $1 ,650.00, $1 ,742.00, $1 ,833.00, $2,200.00,
$2,250.00 and $2,264.00 per year for the next four-year period
beginning September 30, 2025.
3. The annual payment will remain due as indicated in the lease
agreements.
4. The City Manager is authorized to execute any and all documents
incorporating the aforementioned changes, in a form to be approved by
the City Attorney.
PASSED AND APPROVED this the 18th day of February, 2025.
MAYOR
ATTEST:
cam, B�
City Clerk