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BOSAC told $12–18 million remains in open-space bond; two closings delayed by federal funds
Summary
At a Basin Open Space Advisory Committee meeting staff said roughly $12–18 million remains from the county open-space bond but two pending property closings are holding funds in escrow. Committee members raised concern that federal staffing and program cuts could reduce the committee’s ability to leverage county dollars for land purchases.
Summit County staff told the Basin Open Space Advisory Committee on July 1 that roughly $12 million to $18 million remains available from the county open-space bond but two pending property closings have funds tied up in escrow, reducing immediately available dollars.
Rachel Broward, Summit County staff, said the committee’s remaining bond funds “are anywhere, you know, between 12 and 18,000,000 left in the pot.” She said two properties have full award amounts sitting at title companies as earnest money and that those closings have been delayed by federal funding issues, meaning those dollars are currently obligated but not yet spent.
The committee heard that obligated funds are…
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