Board approves purchase contract for 504 acres and 52 paired water shares from Pueblo West Reserve

The Pueblo West Metropolitan District Board of Directors approved a contract to purchase land and paired water shares from Pueblo West Reserve LLC, covering approximately 504 acres and 52 paired shares of Colorado Canal and Lake Meredith water shares.

Matt Lund, director of business administration, told the board the contract had been approved at the previous meeting and returned with minor redline changes requested by the sellers’ counsel. Lund said costs did not change and staff added clarifying language, including an assurance the land had not been leased in the prior five years.

A director asked about an earlier 1999 inclusion agreement tied to portions of the original development and whether that agreement would be assigned to the district or terminated. Lund said, to the best of his knowledge and based on the redraft prepared by outside counsel, prior agreements would be terminated as a result of the land and water acquisition; he also noted that another attorney in the firm handled the redraft.

The board approved the revised purchase contract by voice vote. Board members discussed that several remaining parcels from an original phase would still be governed by a separate homeowners association and were not part of the current acquisition.

Board action: Motion approving the contract to purchase approximately 504 acres and 52 paired Colorado Canal and Lake Meredith water shares from Pueblo West Reserve LLC carried by voice vote.

Clarifying details recorded during the meeting included the acreage (~504 acres), the water‑share count (52 paired shares), and the added contract language ensuring the property was not leased in the past five years. Staff said the purchase would resolve certain outstanding development‑agreement issues but noted a few original parcels tied to a homeowners association were not included in the acquisition.