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05.08.13 OSBT JoderCox memo attachments AGENDA ITEM 5 PAGE 1 CITY OF BOULDER OPEN SPACE BOARD OF TRUSTEES AGENDA ITEM MEETING DATE: May 8, 2013 AGENDA TITLE: Consideration of the purchase of approximately 335 acres of land and all mineral rights along with 10 shares of Left Hand Ditch Company water located at 7495 and 7497 N. Foothills Highway from Joder Arabian Ranch, LLC and Patricia Joder Cox Trust for $5,025,000 for Open Space and Mountain Parks purposes. PRESENTER/S : Michael D. Patton, Director, Open Space and Mountain Parks John P. D’Amico, Property Agent EXECUTIVE SUMMARY The Joder/Cox property is located approximately three miles north of the intersection of North Broadway and Highway 36 adjacent to Beech Open Space. The property slopes upward from east to west with its high point of Joder Peak at 6,300 ft. The western portion of the ranch slopes into a valley behind the palisades formation of Buckingham open space. Evidence of an early home site sits nestled in the south draw near a spring which flows year around. A seasonal spring is located in the upper portion of the north draw. The main ranch operation is located between the two draws. A number of road cuts are located on the property. The failed Boulder, Left Hand and Middle Park Railraod project of the 1880s bisects the lower portion of the property just below the existing residence. In addition, an old quarry road can also be seen climbing and descending through the north portion of the ranch ending ultimately at the quarry site on the ridge overlooking Left Hand Canyon which is now Buckingham open space. Left Hand Water District owns a large water storage tank on a one-acre in-holding and maintains an access road to the tank. This access road begins at Foothills Highway and runs west connecting to the old quarry road. In 1954, Anna Best Joder purchased some 600 acres of land along the hogback north of Boulder. Throughout the years the family has sold various parcels for private development and approximately 335 acres remain as part of the original ranch. The original ranch was purchased by Anna Best Joder to begin the Joder Arabian Ranch. Anna was an expert Arabian horse breeder and founding editor of the national Arabian AGENDA ITEM 5 PAGE 2 Horse News magazine. In the late 1970s, she passed the reins over to her son, Robert Joder. Throughout the past decade Robert and his sons began to scale back the horse operation providing mainly boarding services to approximately a dozen horse owners. In 2010, the Joder family decided to sell the property and further scale back the boarding operation. Many of the boarding operation facilities are over 50 years old and are being removed by the family. In the mid 1990s, the City of Boulder Open Space attempted to purchase the ranch. At that time the family was not interested in selling the fee simple ownership and in 1996 a conservation easement was purchased by Open Space and Mountain Parks (OSMP) for $2,040,000. The conservation easement limits development to four building sites. Two homes are located on the property while the two other building sites are generally undeveloped. Additional improvements include an older stall barn, various horse pens and corrals, hay storage and a 60’x120’ indoor arena. STAFF RECOMMENDATION Staff recommends the Open Space Board of Trustees approve a motion recommending the Boulder City Council approve the purchase of approximately 335 acres of land and all mineral rights along with 10 shares of the Left Hand Ditch Company located at 7495 and 7497 N. Foothills Highway from Joder Arabian Ranch, LLC and Patricia Joder Cox Trust for $5,025,000 for Open Space and Mountain Parks purposes and include this land as part of the North Foothills Habitat Conservation Area. COMMUNITY SUSTAINABILITY ASSESSMENTS AND IMPACTS Environmental: OSMP is a significant community-supported program that is recognized worldwide as a leader in preservation of open space lands contributing to the environmental sustainability goal of the City Council. The Department's land acquisition, land and resource management and visitor service programs help preserve and protect the Open Space values of the surrounding publicly-owned lands. Economic: OSMP contributes to the economic vitality goal of the city as it provides the context for the diverse and vibrant economic system that sustains services for residents. The land system and the quality of life it represents attract visitors and help businesses to recruit and retain quality employees. Social: Because OSMP lands, facilities and programs are equally accessible to all members of the community, they help to support the city's community sustainability goal because all residents "who live in Boulder can feel a part of and thrive in" this aspect of their community. OTHER IMPACTS Fiscal: In 1996 the city purchased a conservation easement on the Joder property for $2,040,000. Great Outdoors Colorado (GOCO) contributed $200,000 towards AGENDA ITEM 5 PAGE 3 the purchase of the conservation easement. The purchase price of the fee simple land along with two houses, water and various other improvements is $5,025,000. The two houses, barns and water are valued at $874,000. This price equates to $17,900 per acre subtracting improvements, water and GOCO contributions. Funds will be available upon approval by council of OSMP’s requested carryover of unexpended 2012 CIP appropriation. City departments are permitted to request that unexpended CIP funds from the previous year are carried over to the current year. OSMP has requested a carryover of approximately $4,270,000 of unexpended real estate acquisition funds which will provide sufficient funds to complete this purchase as identified on line 18 on the attached cash flow statement. The carryover request requires two readings at council. The first reading is scheduled for May 7 and the second for May 21, 2013. Staff time: Normal staff time is required that is associated with the acquisition of a fee property. These costs are anticipated and are incorporated into the 2013 budget. PUBLIC COMMENT AND PROCESS This item is being heard at this public meeting, advertised in the Daily Camera on May 5, 2013. ANALYSIS OSMP has sought to acquire a fee interest in the Joder ranch since the original purchase of the conservation easement in 1996. The ranch is located in an area which creates many opportunities for the community including rare plant species, an abundance of wildlife, unique geologic formations and potential trail connections. The property contains habitat ranging from mixed grass prairie at lower elevations, through foothills grassland/shrubland, riparian and wetland areas to ponderosa pine forest/woodland at the higher elevation. The diversity of wildlife may stand out as the parcel’s greatest asset. Mule deer, elk, raccoon, skunk, bobcat, coyote, fox, mountain lion, black bear and a large variety of bird species including wild turkey, bald eagle, red- tailed hawk, great horned owl, American goldfinch and spotted thrush have been observed at the ranch. There are two prairie dog colonies located on the property. The first colony is approximately 30 acres and located south and east of the main horse pens. The other colony is estimated at 20 acres and is located to the west of the indoor arena. These colonies will be managed in accordance with the OSMP Grassland Plan which provides criteria for the designation of prairie dog colonies into one of four management categories. Two permanent residences and two manufactured homes are located at the ranch. The permanent residences include the main Joder house and the Cox residence. The manufactured homes are being sold by the Joders prior to the purchase. The permanent AGENDA ITEM 5 PAGE 4 residences will, in all likelihood, be added to OSMP’s portfolio of rental homes and the day-to-day management will fall under the responsibility of a property management company. The Cox residence has some potential to be utilized as a seasonal work crew (like AmeriCorps) living space given its previous use as a summer camp home. This option will be evaluated at a future date. In addition to these residential structures, the land acquisition includes a hay storage pole barn, a large Quonset building (used as an indoor riding arena) and an older building that includes horse stalls. The older building that includes the horse stalls may be removed by the Joders, as it is in poor condition and unlikely to sustain further use. Many of the older corrals and portable horse sheds and other facilities are being removed from the site by the Joder family along with various debris piles. General site clean-up will also be performed prior to the purchase. At least for now, two structures previously used as part of the horse boarding operation will remain on the site and will have value for OSMP purposes. OSMP has policies and practices intended to support and advance the successful management of newly acquired properties. Some of these precede acquisition, others occur immediately following acquisition and some are longer term processes that may take several years to complete. Prior to its purchase, OSMP staff carefully inspected the Joder/Cox property to observe its general condition. As with all purchases, OSMP conducted a phase one environmental assessment on Joder/Cox and determined there was no evidence of contamination from past land uses. In addition, staff will prepare or oversee the preparation of a rapid assessment/preliminary management plan, which will then be presented to the Open Space Board of Trustees (OSBT) for consideration. The OSMP Visitor Master Plan (VMP) formalized OSMP’s practice of closing newly acquired properties while the department prepares resource assessments and preliminary management plans as well as taking immediate actions to address potential hazards, secure the property and, if appropriate, construct facilities to provide sustainable visitor access. The VMP states that the timeline for completing these plans is to be developed jointly by staff and the OSBT. The VMP also establishes trail study areas (TSA) and management designations for all OSMP lands. The Joder/Cox property will fall into the North TSA when established. The North TSA planning process is in the early stages, focused upon resource inventories. Staff is confident that the Joder/Cox property can be integrated into the North TSA plan and recommends that key management decisions regarding visitor access to the property be made as part of the North TSA planning process rather than independently. AGENDA ITEM#__5___PAGE__6___ E:\Mapfiles\Property\vicinityJoderCoxAcquisition.mxd 2012 aerial photography- approximate property boundaries from Boulder County Assessor’s data. VICINITY MAP - Joder / Cox Fee Acquisition ATTACHMENT A - City of Boulder Open Space & Mountain Parks BoulderBoulder LouisvilleLouisville LongmontLongmont arrow SUBJECT 0123450.5 Miles Joder / Cox City of Boulder OSMP Other Public Lands © 2013 City of Boulder, Colorado All rights reserved. The map information contained hereon is intended for the sole use of the purchaser and may not be copied, duplicated or redistributed in any way, in whole or in part, without the expressed written consent of the City of Boulder. The information depicted is provided as a graphical representation only. While source documents were developed in compliance with National Map Accuracy Standards, the City of Boulder provides no guarantee, express or implied, as to the accuracy and/or completeness of the information contained hereon. JODER / COX DAGLEBUCKINGHAM PARK BEECH- West Open Space BEECH, COUNTY FOOTHILLS BUSINESS PARK Conservation EasementOlde Stage Rd.N. Foothills Hwy.Nebo Rd. AGENDA ITEM#__5___PAGE__7___ LOCATION MAP - Joder / Cox Fee Acquisition ATTACHMENT B - City of Boulder Open Space & Mountain Parks 0 500 1,000250 Feet 2012 aerial photography-approx. property boundaries from Boulder County Assessor’s data Proposed Purchase OSMP fee/CE NUPUD Outlot BOCO fee Document Path: E:\MapFiles\Property\Joder CE\JoderDetailCEtoFee_10.mxd © 2013 City of Boulder, Colorado All rights reserved. The map information contained hereon is intended for the sole use of the purchaser and may not be copied, duplicated or redistributed in any way, in whole or in part, without the expressed written consent of the City of Boulder. The information depicted is provided as a graphical representation only. While source documents were developed in compliance with National Map Accuracy Standards, the City of Boulder provides no guarantee, express or implied, as to the accuracy and/or completeness of the information contained hereon. Projected Open Space Cashflow 2012-2018Joder/Cox4/10/2013 PROJECTED SALES TAX GROWTH1 2009-2016 Sales Tax forecast 05/4/20102 2010-2017 Sales Tax forecast 06/06/20113 2011-2018 Sales Tax forecast 05/08/20124BEGINNING FUND BALANCESOURCES OF FUNDS5 OS Sales Tax Revenue6 OS Fund - Investments/Leases/Misc.7 Proceeds from RE sale8 General Fund Transfer for Mountain Parks:9 General Fund Appropriation for Real Estate Services:10 Lottery Fund Appropriation for CIP Purposes:11 Unexpended Lottery Funds Carried Over from Previous Year12 Grants13 Total Annual Sources of Funds:14 Total Sources of Funds Available:USES OF FUNDS15 Total Debt Service for Bonds & Notes:16 Capital Available for Land Acquisitions & Preservation17 Unexpended Acquisition Funds Carried Over from Previous Year18 Estimated Carry Over of unexpended funds from 201219 Capital Available for Land Acquisitions & Preservation:20RE Acquisition20122013201420152016201720184.03%3.43%3.42%3.31%3.31%4.25%4.22%3.42%3.30%3.30%3.14%-0.06%3.90%3.48%3.28%3.29%3.20%3.15%$15,233,306 $21,099,503$16,268,252 $19,379,146 $24,849,839 $29,210,392 $36,949,311$25,028,742 $24,839,930$25,701,875 $26,537,186 $27,399,645 $28,270,954 $29,150,150$872,799$810,909$810,909$810,909$810,909$650,000$650,000$893,731$1,025,753$1,072,174$1,082,896$1,093,725$1,104,662$1,115,709 $1,126,866$145,514$152,346$153,869$155,408$156,962$158,532$160,117$425,000$343,000$343,000$355,300$355,300$355,300$355,300$310,434$222,983$28,924,956 $27,218,359$28,092,549 $28,952,528 $29,827,478 $30,550,494 $31,442,433$44,158,262 $48,317,862$44,360,801 $48,331,674 $54,677,317 $59,760,886 $68,391,744$8,522,571$8,667,232$6,722,082$4,907,946$4,786,103$4,188,804 $3,975,045$3,400,000$3,400,000$3,400,000$3,400,000$3,400,000$3,400,000 $3,400,000$2,470,617$0$0$0$0$0$0$4,270,000$5,870,617$7,670,000$3,400,000$3,400,000$3,400,000$3,400,000 $3,400,000$1 599 19520RE Acquisition21 Valmont Butte cleanup22 Previously committed23 Joder/Cox24 Dagle property and water acquisition (anytime from 2013 to 8/14/2014)25 Remaining Land Acquisition Capital Available: 26 Capital for Visitor Infrastructure:27 Highway 93 Underpass28 Capital for Water Rights Acquisition:29 South Boulder Creek Flow Reserve30 Capital for Mineral Rights Acquistion:31 Lottery Capital Appropriation Available for MP Restoration:32 Total CIP Expenditures:33 Management Operating Expenditures - OSMP Program:34 Management Operating Expenditures - RE Services:35 Sub Total Management Operating Expenditures:36 Administrative Budget Transfer - Cost Allocation:37 Total Management Operating Expenditures:38 Total Uses of Funds:39ENDING FUND BALANCE:40 Less Reserves:41 Less Reserve for 27th Pay Period42 Acquisition Reserve43 South Boulder Creek Flow Reserve44 Reserve for Highway 93 Underpass45UNRESTRICTED FUND BALANCE AFTER RESERVES:$1,599,195$87,183$505,000$5,025,000$0$525,000$4,184,239$1,615,000$3,400,000$3,400,000$3,400,000$3,400,000 $3,400,000$998,330$900,000$900,000$900,000$900,000$900,000$950,000$0$1,100,000$22,183$200,000$200,000$200,000$200,000$200,000$200,000$100,000$100,000$150,000$2,000,000$0$100,000$100,000$100,000$100,000$100,000$100,000$632,645$343,000$343,000$355,300$355,300$35,300$355,300$3,339,536 $10,413,000$5,043,000$5,105,300$6,955,300$4,635,300 $5,005,300$9,980,284 $11,750,078$11,985,080 $12,224,781 $12,469,277 $12,718,662 $12,973,036$145,514$152,346$153,869$155,408$156,962$158,532$160,117$10,125,798 $11,902,424$12,138,949 $12,380,189 $12,626,239 $12,877,194 $13,133,153$1,070,853$1,066,954$1,077,624$1,088,400$1,099,284$1,110,277 $1,121,379$11,196,652 $12,969,378$13,216,573 $13,468,589 $13,725,523 $13,987,471 $14,254,532$23,058,759 $32,049,610$24,981,655 $23,481,835 $25,466,926 $22,811,575 $23,234,877$21,099,503 $16,268,252$19,379,146 $24,849,839 $29,210,392 $36,949,311 $45,156,867$5,475,000$5,475,000$5,475,000$5,475,000$5,475,000$5,475,000 $5,475,000$287,270$82,740$132,740$182,740$232,740$282,740$0$0$0$0$2,000,000$2,000,000$2,000,000 $2,000,000$1,150,000$1,500,000$1,750,000$2,000,000$0$0$0$1,100,0000$0$0$0$0$0$13,087,233$8,110,512$12,021,406 $15,192,099 $21,502,652 $29,191,571 $37,681,867