Thursday, July 21, 2016

Broadmoor makes move on city reservoir

Posted By on Thu, Jul 21, 2016 at 12:16 PM

click to enlarge The Ranch at Emerald Valley has only small lakes, and Anschutz reportedly is in the market for a big one. - PAM ZUBECK
  • Pam Zubeck
  • The Ranch at Emerald Valley has only small lakes, and Anschutz reportedly is in the market for a big one.
News of secret dealings between the city's Colorado Springs Utilities and The Broadmoor to sell the Rosemont Reservoir to the resort broke Thursday in the Colorado Springs Business Journal.

As noted in that story and a companion editorial, the deal emerges just two months after City Council approved the trade of the city's Strawberry Fields open space to The Broadmoor — an issue that drew persistent protests from hundreds of citizens.

The Business Journal also notes the negotiations, about which nobody is revealing anything, come after the late April activation of the Southern Delivery System, which cost ratepayers nearly $1 billion and spanned decades. It's a project Utilities claims will keep the Springs supplied with water until 2042.

Word on the street among real-estate circles is that The Broadmoor's owner, billionaire Philip Anschutz, is in the market to buy land within an hour's drive of the resort for a fishing and hunting getaway. Perhaps Rosemont Reservoir is the centerpiece of such a new retreat.

Although the resort's Ranch at Emerald Valley and Cloud Camp have been opened since Anschutz bought The Broadmoor in 2011, neither has a large lake like at Rosemont. 

In any event, the Business Journal notes the city has spent more than 100 years amassing the water rights it owns in a city that's not located on any major waterway. During that time, the city has sold exactly none of its water rights.

We're working on getting more information on the city's water rights situation and will bring you a story in the July 27 edition.

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