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1 RiversideCA.gov
1 RiversideCA.gov
LICENSE AGREEMENT WITH
W-H GT OWNER IX, L.P., FOR USE OF
CITY-OWNED LAND LOCATED ON A PORTION OF
THE RIVERSIDE WATER COMPANY CANAL
LOCATED IN THE CITY OF GRAND TERRACE
CITY COUNCIL
April 9, 2024
Community & Economic Development Department
RiversideCA.gov
2 • May 23, 1961: Final Order of Condemnation in favor
of the City for the Riverside for the Riverside Water
Company Canal.
• Included property formerly used for the purpose of
storing, supplying and distributing water.
• March 28, 2022: W-H GT Owner IX, L. P. purchased
the surrounding property adjacent to the canal.
BACKGROUND
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2 RiversideCA.gov
3 • Approximately 12,811 square
feet.
• Licensed portion is
approximately 2 miles northeast
beyond Riverside’s city limits.
• Property utilized for an
underground pipeline to
convey non-potable water.
• The proposed use is for
landscaping and parking.
DISCUSSION
RiversideCA.gov
4 • 25-year term lease with the ability to assign.
• The agreement will provide annual revenue
of $8,455.26.
• Includes a 2% annual increase.
DISCUSSION
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3 RiversideCA.gov
5 Strategic Priority No. 5 – High Performing Government Goal 5.4: Achieving and maintaining financial health by addressing gaps between revenues and expenditures and aligning resources with strategic priorities to yield the greatest impact.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
6 That the City Council:
1. Approve the License Agreement with W-H GT Owner IX, L. P., for use of a portion of the Riverside Water Company Canal, also known as Assessor’s Parcel Number 1167-121-08, for a twen ty-five-year term – total revenue of $270,824.51; and
2. Authorize the City Manager, or his designee, to execute the License Agreement, including making minor a nd non-substantive changes, and to sign all documents necessary to complete the transaction.
RECOMMENDATIONS
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