Firestone Pit Property Purchased & Sale Agreement Approved
During the Wednesday night meeting, the Board of Trustees approved Resolution 22-98, approving the Purchase and Sale agreement with LG Everist Inc. for the purchase of the Firestone Pit Property.
The Town's Water Team has been working on implementing the 2020-2050 Water Action Plan. The plan identifies the need for the acquisition of additional water supplies and facilities. Currently, the Town has completed the infrastructure project at Firestone Reservoir No. 1 and held the initial closing of Firestone Reservoir No. 2, which is deliverable in early 2026. The Town has successfully purchased additional water shares of the New Consolidated Lower Boulder Reservoir and Ditch Company, Rural Ditch Company, and New Coal Ridge Ditch Company. As a continuation of these efforts, the Town's Water Team has successfully negotiated the purchase of a future water storage reservoir known as the Firestone Pit, currently owned and being mined by LG Everist, Inc. and Last Chance Ditch Company water rights. With the approval of this agreement, the Town will acquire the following water assets:
- Ownership of the land containing the water storage reservoir is being developed through continued gravel mining by LG Everist, Inc. through 2031. Estimated storage capacity of 6,000 acre-feet and a minimum storage capacity of 5,400 acre-ft.
- 3 and 1/6 shares of Last Chance Ditch Company water rights.