The no-cost lease of about 4.678 acres provides lake access from City Park. (Courtesy city of Lakeway)
The city of Lakeway’s 30-year, no-cost lease agreement with the lower Colorado River Authority was renewed for a 15-year term after it expired April 30.
The agreement is for a 4.678-acre tract of land adjacent to City Park. According to a city staff report, the “purpose of the lease is to provide a continuation of park property for park users as the water level of Lake Travis recedes,” since when the lake is full, “this property resides underwater in the Hurst Creek arm of Lake Travis.”
The new lease will be for a period of 15 years and will require 90 days’ notice before lease termination, rather than the 30 days the previous lease required.
Also, the 2022 lease adds a cause for termination of the agreement for the construction of improvements without the LCRA’s consent and has an additional paragraph on how and when to obtain the LCRA’s consent to construct improvements. There also is language describing the insurance the city is required to carry, according to the staff report.
Jennifer joined Community Impact Newspaper in January 2022. She spent the past 16 years working in newspapers as a reporter, copy editor and page designer. She is from Florida but has spent the past six years in the Austin area. She lives in Northwest Austin with her family and two dachshunds.