Summit County council authorizes option to buy historic "Your Ranch" in Camas Valley

Summit County Council on March 8 unanimously authorized the county manager to execute an option agreement allowing the county to buy the Your Ranch, an approximately 834-acre property in Camas Valley that includes associated water shares and rights.

Mr. Thomas, who presented the agreement, said the option requires a $5,000,000 payment tied to a $25,000,000 purchase price and that a 4% interest rate would accrue on the unpaid balance during the option period. He said the option period is intended to give the county time to apply for grants and other funding sources to raise the remainder of the purchase price.

"The provisions include not just the land, but various water shares and water rights that go with that," Mr. Thomas said during the council presentation.

Council members described the property as an important meadow and a major element of water quality for south Summit County. Chris (council member) said the purchase would preserve a 131-year family legacy and guard against development pressures from nearby communities. Tanya (council member) and others thanked the family and staff for bringing the opportunity forward.

Chris moved that the council authorize County Manager Shane Scott to execute the option agreement; Tanya seconded the motion. The chair called for the ayes, and the motion carried unanimously.

Council members and staff said they plan a celebratory photo and noted that staff and the open-space advisory committee spent considerable time negotiating the purchase and preparing the option agreement. Mr. Thomas said the county will continue work on funding alternatives before deciding whether to exercise the option.

Next steps: staff will complete the option paperwork and proceed with grant applications and other funding strategies during the option period; the county will return to the council with additional information if and when the option is exercised.