Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />IF....' <br /> <br />I J <br /> <br />. use of the property to demonstrate the Land Board's role in carrying out its mission as <br />trustee of state lands, <br />"A number of the proposals we received met these basic goals," said Max Vezzani, staff <br />director of the Land Board. "However, we feel that the Chico Basin Ranch Management Co. is <br />clearly the best choice because of a number of additional considerations. These include their <br />cooperative, sincere attitude and creative thinking; their long-established records of success in <br />ranching operations in the area; their ability to stock the ranch with their own livestock; their <br />willingness to incorporate new principles of management; and their understanding of the high- <br />profile status of this ranch." <br />The Land Board and the management company will negotiate the final terms of a lease <br />within the next six weeks. <br />The curre'ritTtiieo Basin Rarich property is the result of a number of land exchanges with <br />a total value of $4.5 million that have taken place in the last 18 months. These exchanges, <br />which included state land that lies under the new Denver International Airport, has allowed the <br />Land Board to "block up" the ranch's 86,000 acres by purchasing 51,000 acres of land held by <br />the John Hancock Insurance Corp.; these acres were interspersed with 35,000 acres of land <br />already owned by the Land Board. The ranch is primarily grazing land located about equi- <br />distant between Colorado Springs and Pueblo. <br />The Land Board decided to acquire the deeded land and assemble the ranch for a number <br />of reasons, including an increase in annual revenues of more than $200,000 a year; the <br />possibility of additional revenues from recreation on the property; and the increase in land values <br />that will result from assembling the ranch under one ownership, <br />Over the next few years, the Land Board has committed to returning an equal number of <br />acres to the tax rolls, to make up to the counties involved for any loss of revenue from the <br />purchase of the 51,000 acres of deeded land by the Land Board. The board will accomplish this <br />by selling and/or exchanging trust lands within the counties. <br />nnn <br /> <br />'\ <br />