Aloha everyone,
We have just been advised that the Panel has rendered its decision in the Phase II Lease Redetermination process.
Basically it represents an increase of approx. 80% over what the present lease fees are. It is back-dated to January 2012 so there will be a large sum due to the landowners. The details of that are yet to be worked out.
For example, my lease fees for unit 39 have been approx. $560/month. The new lease fee will be approx. $1015. It's not quite doubled.
My understanding is that this award is actually less than the amount that the landowners originally demanded from us so it is an improvement. Also, the fee is fixed for ten years. I believe it's about the same as what Phase I received.
The AOBO Board is going to meet this week to consider the next step. Ben Miller will be sending out a letter to all Phase II owners later this week, probably with the specific awards.
Please direct any questions to Ben Miller at BMiller450@aol.com.
Randy
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