Wichita Falls City Council to Consider Water Sale Transfer to Platon Investments
The Wichita Falls City Council is set to review a proposal to transfer the water contract for Lake Kemp from Oklaunion Power Station to Platon Investments LLC, involving the sale of up to 20,000 acre-feet of water. The agreement, which is expected to have no fiscal impact on the city, follows a previous arrangement that generated $1 million annually for the city. Additionally, the council will consider funding for various renovation projects and a sewer upgrade.
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The Wichita Falls City Council will review a proposal to transfer the water contract for Lake Kemp from Oklaunion Power Station to Platon Investments LLC. The deal involves the sale of up to 20,000 acre-feet of water, originally intended for a hydrogen plant project that was never realized.
The city previously received $1 million annually plus $1.30 per 1,000 gallons sold. The proposed agreement states there will be no fiscal impact on the city. Lake Kemp water is co-owned by the city and Wichita County Water Improvement District No. 2. Additional council spending includes $895,000 for a renovation study of Wichita Falls, $1.5 million for Hamilton Park renovations, and over $4.35 million for a sewer project.
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