Agreements related to Lost Canyon Ranch open space purchase top Town Council’s April 16 meeting agenda
Plans for the Town to purchase Lost Canyon Ranch and preserve the property as protected open space are underway, with agreements related to the acquisition on Town Council’s April 16 agenda. View the full agenda online.
Here is a closer look:
Lost Canyon Ranch agreements — The preservation of open space is a priority identified in the 2023 community survey. Lost Canyon Ranch on the Town’s southeastern border in unincorporated Douglas County, is one of the last undeveloped large-acreage properties near Castle Rock. For these reasons, the Town is partnering with Douglas County, Great Outdoors Colorado, Douglas Land Conservancy and The Conservation Fund to acquire the 681-acre property. When finalized, this will represent the largest acquisition and protection of open space in Town history.
Lost Canyon Ranch includes a variety of habitat types including riparian, ponderosa forest and open grasslands. The property is surrounded on the north and west by residential neighborhoods and large acreage estate lots on the south. The ranch shares a 3/4-mile boundary with Castlewood Canyon State Park on the northeast side. Its location presents a wealth of potential trail connections to the surrounding metro-district green spaces and the adjacent State park.
The property is currently owned by the estate of the former owner who passed away several years ago. There have been purchase offers by private developers that could compromise the conservation values, wildlife habitat and corridors, as well as public benefits by changing the land use of the property. The sale of this parcel to a developer could result in dividing the parcel into at least 19 individual 35-acre residential estate lots with individual water wells and leach fields, thus fragmenting wildlife habitat.
The Conservation Fund, a nonprofit entity dedicated to the preservation of the country’s most critical lands and waters, is assisting with the acquisition. TCF has led negotiations with the current owner on behalf of the Town and the County. TCF has also coordinated with Douglas Land Conservancy for the placement of a conservation easement on the parcel for the ongoing protection of the ranch as open space. TCF will contribute $200,000 toward the purchase.
On April 9, the Board of Douglas County Commissioners unanimously approved an agreement with the Town to provide a financial contribution of $5.5 million for the acquisition of Lost Canyon Ranch.
On Tuesday, Town Council will consider a financial contribution agreement with Douglas County and a sale, purchase and management agreement with The Conservation Fund to secure the necessary funding and legal documents required for the acquisition of Lost Canyon Ranch.
In addition to the County and TCF financial contributions, Great Outdoors Colorado recently provided the Town with a $3 million award toward the purchase of the ranch, marking the largest funding amount from GOCO for any parks and recreation project in Town history.
If approved and finalized, the Town will purchase the property from The Conservation Fund for a total contract price of $14,627,432. Additional acquisition and due diligence costs make the total property acquisition cost $15,009,432.
If the agreements are approved and the purchase proceeds as expected, a late April 2024 closing is anticipated. The Town will then begin the master planning process for future trails and public use for the open space and will invite public participation in the planning process.
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