So much for inflation. The pristine 65-acre property known as Warm Springs Ranch just got $1 million cheaper.
Donations from the community reached the first threshold last month to purchase the property the City of Ketchum would like to preserve in perpetuity. That goal was met by 330 individual donors after raising $4.5 million, including one $1 million gift from a member of the campaign committee. The purchase price of the property is $9 million.
With this critical goal met, Warm Springs Ranch owner Bob Brennan has now offered to reduce the sales price by $1 million, to $8 million. That is, if $6.5 million is raised in gifts and pledges by Dec. 31. The total fundraising goal would then be $9 million instead of $10 million; $8 million for the property acquisition and $1 million for irrigation and restoration improvements.
“There are still fundraising goals to be met, but I believe this milestone is a testament to the widespread community support to save this magical piece of land. Let’s maintain the momentum,” said Ketchum Mayor Neil Bradshaw.
Through year-end giving, the city hopes to raise at least the additional $2 million to ensure the reduced price of the property, leaving the remaining $2.5 million to be acquired by April 28, 2022.
If the funds are raised to purchase the property, Warm Springs Preserve will be kept as open space in perpetuity for the community.
Priorities for the Preserve include off-leash dog access, creek and habitat restoration, new water-conscious irrigation system, walking trails, informal gatherings and activities, Nordic ski and snowshoe trails, and public restrooms. Development, organized sports and reserved private or commercial events would be restricted.
Currently, the property is zoned to allow significant development. However, a subdivision application and approval from the city would still be required.
For more information and to find ways to give, visit www.warmspringspreserve.org.