Kaplan Kirsch closed another Public-Private Partnership Perpetual Preserve (P5). The Firm represented private landowners, partnering with Summit County to acquire and preserve 1,123 acres of the historic Knorr Ranch along the Green Mountain Reservoir near Silverthorne. Our clients dedicated a conservation easement on the entire property to Colorado Cattlemen’s Agricultural Land Trust (CCALT), successfully preserving Summit County’s largest open space project in more than a decade. The conservation easement perpetually eliminates all future development rights on the property, preventing a potential 64 home site development on one of Summit County’s few remaining ranches. The project was made possible by multiple public and private partners and landowners working together, as well as a financing package consisting of a combination of private equity, county and state open space funds, and a conservation easement tax credit.
Our team negotiated the numerous funding and transaction documents; coordinated the efforts of various parties and experts; and shepherded the complex, multi-step transaction to a successful closing. Representatives of Summit County, CCALT, and the state of Colorado joined the Knorr family and our clients on the ranch to provide their appreciation and recognition of the group efforts. Additional information regarding this landmark P5 is available below.
Summit County Press Release: http://www.co.summit.co.us/CivicAlerts.aspx?AID=429
Summit Daily News: https://www.summitdaily.com/news/summit-county-completes-landmark-deal-to-protect-1125-acres-of-open-land-near-heeney-from-development/
