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Land Board approves Fountain Creek Extension purchase to enable wetland mitigation bank
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Summary
The board approved acquisition of up to 120 acres near the Fountain Creek corridor to improve access to an existing 80-acre trust parcel and create the potential for a stream and wetland mitigation bank; board approved expenditure of IND funds for perimeter improvements and delegated acquisition approval as presented.
Staff proposed the acquisition of the Fountain Creek Extension parcel — roughly 100–120 acres adjacent to a currently owned 80-acre School Trust parcel — to create contiguous access, improve the potential for a wetland and stream mitigation bank and support multiple trust objectives including grazing, recreation and future marketing for homesites if mitigation bank approval is not obtained.
Val Lafontaine, acquisition disposition manager, and Mindy Gottsagen, conservation services manager, told the board the acquisition solves a longstanding access limitation that has impeded the development of a mitigation bank on the existing 80-acre parcel. Gottsagen said the combined property would more than double the project size and double potential mitigation credits, which would make the application more attractive to the U.S. Army Corps of Engineers.
“This acquisition makes possible the development of that bank,” Gottsagen said, noting staff had held a planning lease on the 80-acre parcel for at least four years but lacked access that regulators require.
Staff said the purchase price is negotiated on a per-acre basis at $4,450 and that, depending on final surveyed acreage (staff’s contract survey was in process), the maximum total purchase price would not exceed $578,500. Staff asked the board to approve use of up to $50,000 in IND funds for property improvements including a new perimeter fence.
Commissioner Scanlon moved the acquisition and IND-fund expenditure as presented; a second was recorded. The recorded votes were: Commissioner Scanlon — yes; Commissioner Chavez — yes; Commissioner Heath — yes; Commissioner Clark — absent; Chair (Commissioner Froeb) — yes. The motion carried. Staff said the purchase price will be paid from NSE funds (not IND) and that IND funds requested are for improvements only.
Staff described ancillary benefits: the 80-acre piece currently is leased for limited recreation, the combined property could support grazing and potentially one or more homesites if mitigation banking is not approved, and the parcel is an original Section 36 trust holding. Staff also said vertical improvements remain on the seller-retained parcel and that the board would not acquire significant buildings as part of this transaction.
The board approved the acquisition, authorized the IND funds request for improvements and delegated final acquisition approvals to staff in accordance with the board packet.
