Boulder County commissioners approved a $10.8 million purchase on 586 acres in Heil Valley Ranch.
The county has been leasing the land, located in the middle of the open space property west of Longmont, from the Colorado State Land Board since 1998. Commissioners unanimously approved the purchase during Tuesday’s meeting.
Boulder County initially acquired Heil Valley Ranch in a phased deal spanning from 1994-1996. The overall purchase of the original 4,934 acres was $8.76 million. In 2012, the county purchased an additional 209 acres for $6 million, totalling $14.5 million for the 5,143 acres.
The parcel purchased Tuesday has no sale history as it was created during Colorado’s statehood to manage lands granted by the federal government to Colorado.
The State Land Board unanimously approved commencing the process of transferring this and another parcel at Bald Mountain to Boulder County through direct local government transaction. The State Land Board rarely disposes of trust land, only doing it when the board believes it will be a clear benefit to the state.
The parcel was appraised at $10.5 million for the land. There are no water rights with the property and the mineral rights associated with it cannot be sold by the State Land Board.
Instead, the State Land Board has entered into a 99 year non-development agreement with the county for an appraised value of $290,000, creating a combined purchase price of $10.8 million or $18,498 an acre.
Several years ago, Boulder County negotiated for a portion of its annual lease payments on Heil Valley Ranch and Bald Mountain to be credited toward the county’s purchase price of the properties. The credit will be approximately $463,700 for both parcels.
The property is being bought with open space sales and use taxes, which Boulder County can only use for open space purposes.
Staff also noted that Heil Valley Ranch was one of the first open spaces protected by the county and emphasized the importance of protecting this property.
“Heil Valley Ranch was the ‘poster’ property illustrating to the public the need for a countywide open space sales and use tax,” the staff memo said. “Acquisition of this parcel will complete the county’s efforts to protect this iconic property.”
