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Council approves $1.1M purchase to add 35 acres to Lost Canyon Ranch open space
Summary
Parks staff requested and council approved a purchase-and-sale agreement to acquire roughly 35 acres adjacent to Lost Canyon Ranch for $1,100,000, including non‑tributary groundwater rights; Castle Rock Water will contribute funds and staff will begin diligence after an earnest‑money deposit.
The Town Council authorized a purchase-and-sale agreement to acquire approximately 35 acres adjacent to Lost Canyon Ranch for $1,100,000, including non‑tributary groundwater rights and well infrastructure. Parks staff said the majority of the funds will come from the Conservation Trust Fund in the Parks and Recreation budget and that Castle Rock Water has agreed to contribute financially.
Parks staff asked council to authorize a $25,000 earnest‑money deposit to begin a 60‑day due‑diligence period; staff noted the agreement contains a time limit through April 1, 2026. Jeff Brower, speaking for Parks and Recreation, said water-rights estimates range between $69,000 and $87,000 based on staff evaluation.
Councilmembers praised the acquisition and the staff work; there was no public opposition and the council approved the resolution unanimously by roll call.
