Thursday, November 27, 2008
Texas Motor Speedway gas drilling revenue-sharing agreement initially approved in meeting
Email
|
Print
|
Tell us your story
|
Comment
|
In a meeting held, oddly enough, the night before Thanksgiving, The City of Fort Worth and the Texas Motor Speedway made the first step towards a gas drilling revenue-sharing agreement. Texas Motor Speedway, Inc. sold the land and track to the city 12 years ago, but since then the gas-drilling boom has made that tract of land even more valuable.
TMS made the argument that despite the sale, it still owns the mineral rights on the property since it has the option to buy the property back in 2026.
Sound confusing? No doubt a little confusing to everyone involved, since both parties have decided to cut a deal instead of suing the bejezus out of each other.
Posted by Erin
See more stories in:
Find...
Today
1st Ever Libertine Brass Knuckle Corndog Beatdown Happy birthday, 'Merica. Before you watch the rockets' red glare tonight, stop in for beer and a kid-friendly corn dog contest. What could be more patriotic than that? More info
Blogs
- It’s me, not the phone
Square Pegs - Local musicians make a song for Neda
Square Pegs - St. Vincent on Letterman
Square Pegs
Latest comments
- John McClelland on Fort Worth mayor wants feds to look into Rainbow Lounge raid: I thought Prohibition ended in 1933. So why do we still have police enforcement of alcohol? Makes yo...
- Russ Vandeveerdonk on Kristen Blair of Southlake crowned Miss Texas 2009: Congratulations Kristen, the new Miss Texas! By the way, I have worn the Miss Texas crown briefly,.....
- Jason Rice on Pearl at Commerce: ::we work hard on that part, believe it or not Well, yeah… with Yosti’s intense *..ahem..* “lack o...
- momzilla on Cities around Dallas are adding traffic "circles": The only one I’m familiar with is the Weatherford Circle in west Fort Worth where 377, 183 and Camp ...
Latest reviews
- okme2 on Melting Pot (Arlington): My first time at a fondue place, it was an interesting experience. Definitely not a place to go alon...
- Mike Orren on Agave Tapas Grill Restaurant & Bar: Easily the best tapas restaurant on Lake Ray Hubbard… This one’s a matter of expectation setting. ...
- caitlynbuckley on Jake's Old Fashioned Hamburgers (Dallas / Skillman & Abrams): If you are craving a delicious, greasy hamburger and you want it immediately, Jake’s is a great plac...
Post a comment