July 2006,  a "new"Residential Ground Lease was adopted by the BRA Board of Directors

    July 2007,  a New Lease Rate Methodology was  adopted  (Click Here)

   July 2007, the  Presiding Officer of the Brazos River Authority  requested an opinion (RQ0611AG) from the Texas Attorney General  concerning  the discount  and freeze on lease rates for lessees over 65 who would qualify for a homestead exemption on their leased property at Possum Kingdom Lake.  The request was very positive and expressed a real concern for this group of individuals.  (Click Here) to view  the request and (Click Here) to view the attorney General's response. 
The last sentence of the opinion states in part "Texas Constitution does not prohibit the BRA from offering a lease discount and freeze·to certain lessees if the BRA's governing body reasonably determines that such lease terms satisfy the public purpose test."  Apparently the BRA believes discounts are not allowable because the lease terms do not meet the public purpose test.       

  July and October 2007, the Authority Directors adopted revisions to the "new"  Residential Lease Form. Revisions included the elimination of the 50-year lease, setting the lease term at 20-year plus 10-year lease and the 1 October 2007 deadline for signing the new leas was eliminated. 

       Lease Revisions (Click Here)    Replaced the 50-year lease with a 20-year lease and provided for a 10-year extension.
       Lease Revisions (Click Here)    Added Restrictions and Requirements for New Leases.

    A sample copy of the revised lease form, including the 30 July  and 29 October BRA adopted revisions, is posted on the BRA web site,  (Click Here)   to view.  Or enter   http://www.brazos.org/generalPdf/PK_Sample_Residential_Lease_7-30-07.pdf in your Internet browser.

     May 2008,  a moratorium on issuing all new BRA leases was adopted because of the concept of selling BRA land to a third party was being considered.

    June 2008, the Texas Attorney General (AG) opinion in response to the request RQ0639AG on the behalf of the BRA was related to the market value of the PK leaseholds.   The AG opinion was issued on 6 June 2008  as GA-0634.
(Click Here ) to view  the full opinion and others  issued to date or, copy , paste and enter in your Internet browser http://www.oag.state.tx.us/opin/opinions/op50abbott/index.shtml and click on the 2008 GA-0634 listing.
 (Click Here)  to view the summary of the GA-0634 AG Opinion that favored the leaseholder's position on the land value.