Montrose Borough Council agreed to lease 19.25 acres to Cabot Oil & Gas Corporation, following an executive session held during the Monday, March 4 meeting.
The borough council and Cabot have been discussing the proposed lease and side letter agreement for a considerable length of time, and in the past several months closed in on the terms.
The borough entered the non-surface lease for its land at $1,000 per acre bonus; 15 percent royalties; and no post-production costs.
The lease provisions also extend to borough property owners.
Those property owners who already have a lease with Cabot have 90 days from March 4 to notify the company and request the “Montrose Borough Lease Terms and Addenda.”
Council President Sean Granahan suggested letters be sent certified so residents could track the mailing. He stressed that property owners are obligated to notify Cabot.
Letters should be directed to: Cabot Oil & Gas Corp., C/O Janice Lobdell, 8207 SR 29, Montrose, PA 18801.
Property owners in the borough who do not currently have a lease with Cabot can also sign on under the borough’s lease terms and addenda by sending a letter to the same address. However, those who do not have a lease are not required to mail the company within the 90 day window.
Property owners requesting the Montrose Borough Lease Terms will also receive the $1,000 per acre bonus; 15 percent royalties; and no post-production costs with a non-surface lease.
Council also heard from a Jessup Street resident who reported a large amount of debris, including vehicle tires and furniture, has been disposed of on a neighboring property. The debris, he said, is not readily visible from the street. He said that over 50 tires are on the property.
Council noted that there are some other issues with the home and discussed possibility moving to condemn the house if those issues were not addressed.
But currently, the borough is without a codes enforcement officer, and will wait until a new codes officer is in place and then a notice will be sent to the property owner.
Mayor Tom LaMont suggested the borough clean up the property and then place a lien against it.
The council voted to sever ties with the JHA Building Codes Officer. They also approved advertising for a non-UCC Code Enforcement Officer to handle complaints.
A new building fee schedule was adopted by the borough, taking the fees back to a previous level.
The borough approved the request for the annual Memorial Day parade on May 27; and the 5K Run for Life on May 18.
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