Oklahoma Commissioners of the Land Office
COMMISSIONERS OF THE LAND OFFICERegular Meeting AgendaThursday, December 10, 2020 at 2:00 p.ernor’s Large Conference Room2nd Floor, Oklahoma State CapitolOklahoma City, OklahomaCall to OrderRoll CallDeclaration of a Quorum1.Request Approval of Minutes for Regular Meeting Held October 8, 2020a.Presented by Elliot Chambers, Secretaryb.mission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.2.Secretary’s Comments3.Consideration of Dates for 2021 Commissioners MeetingsThursday, January 14, 2021Thursday, July 15, 2021Thursday, February 11, 2021Thursday, August 12, 2021Thursday, March 11, 2021Thursday, September 16, 2021Thursday, April 8, 2021Thursday, October 14, 2021Thursday, May 13, 2021Thursday, November 18, 2021Thursday, June 10, 2021Thursday, December 9, 2021Recommendation: The Secretary recommends the approval of the 2021 schedule of the Commissioners Meetings.Presented by Elliot Chambers, SecretaryDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.4. Presentation of September 30, 2020 Quarterly Investment Performance Report by RVK (informational only)Presented by Mark Higgins, RVKDiscussion5.Consideration and Possible Action to Provide Additional Funds for a Professional Services ContractAuthorization to provide additional funding for a professional services contract with the law firm of MaHaffey & Gore, P.C. is requested. The firm represents and advises the CLO on oil and gas matters including the lawsuit of CLO v. Apache Corp., CJ 17-1, (Dist. Beckham, Okla). The available balance of funds previously authorized have been expended and are insufficient to pay continuing legal fees related to the litigation. Additional funding in the amount of $70,000 is requested. Recommendation: The General Counsel recommends authorizing additional funds to pay attorney fees incurred in ongoing litigation.Presented by Bennett Abbott, General CounselDiscussionCommission action in which the Board may approve, disapprove, or table the matter and/or direct staff to take further action.6.Consideration and Possible Action to Approve Exchange of Land and BuildingsLease No.Legal Description909503 Oklahoma CountyA part of Block One (1) of Doffings Suburban Addition, an addition to the City of Oklahoma City, according to the recorded plat thereof; located in the NW/4 Section 6-11N-03WIM containing 2.722 acres more or less with a street address of 300 and 304 South Miller PlaceThe Real Estate Management Division of the Office of the Commissioners of the Land Office is requesting approval to include the above referenced tract as part of an exchange for the commercial investment properties located at 201 W 5th Street and/or 419 S. Denver Avenue, both in Tulsa, Oklahoma.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends this parcel be offered in exchange for the stated investment properties in Tulsa.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.7.Consideration and Possible Action to Approve Appraisal of Land for Sale or Exchange, and Exchange of said LandLease No.Legal Description106480 Pottawatomie CountyA parcel located in the E/2 of the SE/4 Section 36-11N-03EIM containing 20 acres more or lessThe Real Estate Management Division of the Office of the Commissioners of the Land Office has previously received approval to offer for sale or exchange the above referenced tract, in whole or in part.The property was appraised by three Oklahoma Certified General Appraisers. The total value is $1,820,000.00.The Real Estate Management Division is also requesting to include this tract as part of an exchange for the commercial investment properties located at 201 W 5th Street and/or 419 S. Denver Avenue, both in Tulsa, Oklahoma.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends the appraised amount of the property be approved, and this parcel be offered in exchange for the stated investment properties in Tulsa.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.8.Consideration and Possible Action to Approve Exchange of LandLease No.Legal Description106432 Canadian CountyA tract of land lying in the SE/4 of Section 16-13N-05WIM containing 25.5875 acres more or lessIn February 2009, the Commissioners granted a 55-year commercial ground lease on this property to Village Verde, LLC for the purpose of developing the land for commercial and residential purposes. This property is located at the intersection of NW Expressway and Mustang Road, in the northwest Oklahoma City metro area. As required, the lessee filed a development plat along with covenants and restrictions with the City of Oklahoma City. The Commissioners approved the sale or exchange of this commercially zoned tract and its appraised value in February 2020.The Real Estate Management Division is requesting approval to include the above referenced tract as part of an exchange for the commercial investment properties located at 201 W 5th Street and/or 419 S. Denver Avenue, both in Tulsa, Oklahoma.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends this parcel be offered in exchange for the stated investment properties in Tulsa.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.9.Consideration and Possible Action to Approve Appraisal of Land for Sale or Exchange, and Exchange of said LandLease No.Legal Description106432 Canadian CountyA tract of land lying in the NE/4 and the SE/4 of Section 16-13N-05WIM containing 39.98 acres more or lessIn February 2009, the Commissioners granted a 55-year commercial ground lease on this property to Village Verde, LLC for the purpose of developing the land for commercial and residential purposes. This property is located north of NW Expressway and west of Mustang Road, in the northwest Oklahoma City metro area. As required, the lessee filed a development plat along with covenants and restrictions with the City of Oklahoma City. The lease allows for the sale of the residential tracts. Three other residential tracts of this lease have been sold and developed; this would be the fourth such sale.The property was appraised by three Oklahoma Certified General Appraisers. The total value is $770,000.00The Real Estate Management Division is also requesting to include this tract as part of an exchange for the commercial investment properties located at 201 W 5th Street and/or 419 S. Denver Avenue, both in Tulsa, Oklahoma.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends the appraised amount of the property be approved, and this parcel be offered in exchange for the stated investment properties in Tulsa.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.10.Consideration and Possible Action to Approve Appraisal of Land for Sale, Exchange or Long-Term Commercial Lease and Exchange said LandLease No.Legal Description100474 Lincoln CountyThat part of the SW/4 of Section 36-15N-04EIM located north of I-44, containing 70 acres more or lessThe Real Estate Management Division of the Office of the Commissioners of the Land Office is requesting approval to offer the above referenced tract for sale, exchange or long-term lease, in whole or in part, for future development.The property was appraised by three Oklahoma Certified General Appraisers. The total value is $8,000.00 per acre.The Real Estate Management Division is also requesting to include this tract as part of an exchange for the commercial investment properties located at 201 W 5th Street and/or 419 S. Denver Avenue, both in Tulsa, Oklahoma.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends authorization to offer this tract for sale, exchange or long-term lease; that the appraised amount of the property be approved, and this parcel be offered in exchange for the stated investment properties in Tulsa.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.11.Consideration and Possible Action to Approve Appraisal of Commercial Real Estate for Sale or ExchangeLease No.Legal Description909506 Oklahoma CountyUnit 700 of Oklahoma Commons, a unit ownership estate created by the Declaration of Unit Ownership Estate for Oklahoma Commons dated August 31st, 2020, filed September 1st, 2020 and recorded in Book 14461, beginning at Page 1010, in the office of the County Clerk of Oklahoma County, State of Oklahoma, together with the undivided interest in the common elements appertaining thereto; located in NE/4 of the SE/4 of Section 33-12N-03WIMThe Real Estate Management Division of the Office of the Commissioners of the Land Office is requesting approval to offer the above referenced property for sale or exchange.The property was appraised by three Oklahoma Certified General Appraisers. The total value is $1,320,000.00.Recommendation: Manager of the Commercial Property Group, Real Estate Management recommends authorization to offer this property for sale or exchange and recommends that the appraised amount of the property be approved.Presented by John Fischer, Manager of the Commercial Property Group, Real Estate ManagementDiscussionCommission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.12.Consent Agenda – Request Approval of September and October Agency Monthly Division Summary of ActivitiesThe Agenda items presented on the Consent Agenda are considered as one item for voting purposes. The Consent Agenda includes items that are statutorily or constitutionally required to be performed by the Commissioners of the Land Office or are administrative in nature, which are done as a routine action by the Commissioners of the Land Office. If any member of the Commission or any member of the public requests a particular item or items to be considered individually, the matter or matters shall be considered individually.Presented by Elliot Chambers, SecretaryDiscussion Commission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.Financial Services DivisionSeptember 2020Claims Paid (Routine) (pp. 292-293)October 2020Claims Paid (Routine) (pp. 294-295)Budget to Actual Expenditure Comparison, October 2020 (p. 296)Minerals Management DivisionSeptember 2020 (pp. 297-298)October 2020 (pp. 299-301)Real Estate Management Division Real Estate Auction Results, 2020 (pp. 302-334)September 2020 (pp.335-336)October 2020 (pp. 337-339)Administration—Records ManagementDeeds (pp. 340-343)Patents (pp.344-346)13.Financial Information Regarding Investments and Monthly Distributions (informational only)AccountingOctober 2020 Distribution by District and MonthNovember 2020 Distribution by District and MonthInvestments October 2020 Market Value Comparison14.Executive SessionAn Executive Session may be convened pursuant to 25 O.S. §307(B)(4) for confidential communications between the CLO and its attorney concerning a pending investigation, claim, or action if the public body, with the advice of its attorney, determines that disclosure will seriously impair the ability of the public body to process the claim or conduct a pending investigation, litigation, or proceeding in the public interest. The matters to be discussed in executive session include settlement of CLO v. Apache, CJ 2017-1 (Dist. Beckham Co.)Presented by Bennett Abbott, General CounselVote to Convene Executive SessionRetire to Executive SessionVote to Return to Open Session 15.Consideration and Possible Action on Executive Session ItemsThe Commission may further consider and take action in open session on the listed Executive Session agenda items in accordance with 25 O.S. §307(E)(3).Commission action in which the Board may approve, disapprove or table the matter and/or direct staff to take further action.16.New BusinessThe Commission may discuss, consider and take possible action regarding new business that could not have been reasonably anticipated or was unknown prior to the regular meeting.AdjournNotice of PostingDate / Time: Wednesday, December 9th, 2020, before 2:00 p.m.Locations: Commissioners of the Land Office204 N. Robinson, Suite 900Oklahoma City, OK 73102By:Hannah Pryor, ArchivistA public body is not required under the Oklahoma Open Meetings Act or the First Amendment of the U.S. Constitution to provide individuals an opportunity to express views or interview members of the public body. Oklahoma Attorney General Opinion 02-26. ................
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