by Lane Roberts
The Castle Pines North (CPN) Metro District has been exploring the possible purchase of water rights from the London Mine, located on the middle fork of the South Platte River for several years.
At the monthly board meeting on May 21, the Metro District Board voted to terminate the contract with THF Holdings, owner of the water rights. Following a thorough examination, the District determined the amount of water available, total average flow, water treatment costs, missing easements and numerous other issues were not sufficient to pursue this purchase.
The District had originally planned to purchase the water rights for approximately $23 million. During the board meeting, Vice President Bruce Thompson read a prepared list of reasons why the District chose not to further pursue the water deal.
“We are comfortable we did our due diligence, and we made this decision based on very good reasons,” said Board Treasurer Cortney Brand. The District will continue to pursue other renewable water options. More information can be found at www.cpnmd.org.