Seller accepts Basalt’s offer of $2.9M for land |

Seller accepts Basalt’s offer of $2.9M for land

Roaring Fork Community Development Corp. has accepted the town of Basalt’s offer of $2.9 million for the potential purchase of 2.3 acres of land near downtown.

The development corporation, a nonprofit entity, originally sought $3 million for the property along Two River Road. An appraisal established the value at $2.9 million.

“We have had to consult with our lenders, all of whom are local nonprofits and philanthropists, about the proposed offer because it is more than $100,000 short of the amount needed to return all of the money that the (Community Development Corp.) owes to those lenders,” Michael McVoy, board president of Community Development Corp., wrote in a letter to the town.

“We also understand your commitment to pay no more than the appraised value,” McVoy added.

The purchase is contingent on voter approval in the November election. Basalt voters will be asked to provide $3 million in funding for the purchase as well as about $4 million for park improvements. The town already owns property along the Roaring Fork River, abutting the Community Development Corp.’s 2.3 acres.

McVoy said in his letter that the Community Development Corp. hopes voters will approve the purchase of the “iconic” property and that the community creates “an extraordinary downtown gathering place no matter what mixture of development and riverfront park the community and its elected leaders ultimately decide upon.”

Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


See more