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Cave Creek weighing $11.25 million Harquahala Valley groundwater purchase, decision due next week
Summary
Town staff said Cave Creek has a due‑diligence deadline and must decide whether to buy 500 acre‑feet per year (100‑year supply) from a Harquahala Valley groundwater project; the contractual price cited was $11,250,000 and a $50,000 earnest deposit has been placed.
Town staff told residents that Cave Creek has entered a purchase option for groundwater from the Harquahala Valley project and must decide whether to complete the acquisition before the end of the due‑diligence window.
Sean Cruz Weisner, the town’s utilities director, said the town’s contract gives access to 500 acre‑feet per year for 100 years and that the contractual value for that allotment is $11,250,000. Weisner said staff has put down $50,000 in earnest money…
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