Deer Lakes School Signs Lease for $3,100/Acre + 18% Royalties

money bagAttention Martian parents from the Mars School District in Middlesex Township (Butler County), PA: In Allegheny County (bordering Butler County on the south) the Deer Lakes School District has just signed a lease to allow shale drilling under school property. Why are you Martians so afraid of shale drilling? (see Martian Arrogance: Town MUST “Protect Us” from Drilling via Zoning) At Tuesday night’s school board meeting, Deer Lakes board members voted to lease 110 acres of school property for drilling under (not on) with Huntley & Huntley, Inc. The lease terms are $3,100 per acre in a signing bonus and 18% royalties–yielding a nice check for $341,000 to the school just for signing. Those terms are not quite as rosy as last year’s deal struck by Allegheny County Executive Rich Fitzgerald who negotiated what turns out to be close to $4,000 per acre (and an 18% royalty) for leasing 1,180 acres in Deer Lakes Park (see Allegheny Co Exec Bests Range on Deer Lakes Park Lease Deal). The county park is literally a stone’s throw from the school…

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