Pitkin County approves purchase of Twin Lakes and Fountain Mutual irrigation shares to boost Roaring Fork flows

Pitkin County commissioners voted Feb. 11 to appropriate $6,835,000 from the Healthy Rivers and Streams fund and to move forward with a contract to acquire water shares that staff say will increase flows in the Roaring Fork River.

County staff said the package includes 60 shares of the Twin Lakes Reservoir & Canal Company and 34 shares of the Fountain Mutual Irrigation Company. The county has agreed terms with Castle Concrete (the seller) and expects closing on April 2, 2026. Twin Lakes shares are currently tied up in a substitute water supply plan but are expected to be released in March, enabling releases to the Western Slope.

Officials described financing plans that initially use general fund cash and reimburse with Healthy Rivers bond proceeds; the board earlier approved a resolution declaring its intent to reimburse certain airport and Healthy Rivers construction costs from future bond proceeds to cover timing of expenditures. Staff said they are also exploring options for Fountain Mutual shares — holding, trading for additional Twin Lakes shares or selling some shares to offset acquisition costs.

Healthy Rivers board chair Kirsten Neftu (statement read by staff) emphasized the urgency created by low snowpack and climate change and supported the purchase as a rare opportunity to secure water for the valley’s headwaters. Commissioners framed the acquisition as an ecological and long‑term watershed investment.

Next steps: complete due diligence, finalize financing plan and coordinate with Twin Lakes operations to schedule releases that will place water to beneficial use on the Western Slope.