Copano Cove Ranch Acquisition

Project Description

The Grantee will use Coastal Management Program Cycle 29 Gulf of Mexico Energy Security Act (GOMESA) funds to 1) complete due diligence of the proposed property, and 2) purchase the 973-acre Copano Cove Ranch property for the purposes of habitat and wildlife preservation, stormwater/flood management, and public access. The Grantee will work with the Property owners to acquire a non-binding letter of intent and thereafter a binding contract of sale for the Property. The Grantee will conduce due diligence on the Property including obtaining a title commitment and title policy. Once due diligence is reviewed and approved by the Texas General Land Office (GLO), the Grantee will acquire the Property and will be the title holder, subject to matters of record, including but not limited to the Easement. The Easement shall cover the entire Property acreage and prevent any further development, except as provided for in the Easement. The Easement will either continue to be held in favor of the NALT or will be transferred to a comparable entity.