City, McWhinney agree to oil and gas agreement if Centerra South URA is approved

LOVELAND — McWhinney Real Estate Services Inc. has agreed to permanently relinquish its rights to drill for oil and gas on the property adjacent to the Centerra South commercial development, but the agreement is contingent upon approval of the new urban renewal area that would include Centerra South.

Last week, in answer to a question from Mayor Jacki Marsh, McWhinney offered to negotiate such an agreement if the county returned to the negotiating table over its piece of the financing agreement that would be part of the URA. 

The county had withdrawn from negotiations pending clarification of whether ag land could be…