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Council OKs $1.1 million purchase to expand Lost Canyon Ranch open space
Summary
Council approved a time-sensitive purchase-and-sale agreement to acquire roughly 35 acres adjacent to Lost Canyon Ranch from Guardian Angel Trust for $1.1 million, including non-tributary groundwater rights; staff requested $25,000 earnest money to begin a 60-day diligence period.
The Castle Rock Town Council voted unanimously to authorize a purchase-and-sale agreement to add roughly 35 acres to Lost Canyon Ranch.
Parks and Recreation senior staffer Jeff Brower told council the town would acquire the parcel and included non-tributary groundwater rights and well infrastructure for a purchase price of $1,100,000. Brower said the town would deposit $25,000 in earnest money to begin a 60-day due-diligence period, with a contract timeline that staff expects to complete before an April 1, 2026 closing deadline if due diligence is successful. Brower said Castle Rock Water staff have evaluated the water-rights quantities and that the Conservation Trust Fund would supply most of the acquisition funding; Castle Rock Water will provide a financial contribution to reduce the net acquisition cost.
Councilmembers expressed broad support, noting site tours and the parcel’s scenic views and public-access benefits. Councilmember Brooks and others urged timely action because the seller was willing and the parcel supports the town’s open-space priorities.
Council approved the resolution by roll-call vote with all members voting in favor. Staff will proceed with escrow, title review, water-rights verification and the earnest-money deposit as described in the agreement.
