KAJX

CDC agrees to River Park sale price

Sep 13, 2016

Credit Elise Thatcher

  The Roaring Fork Community Development Corporation has agreed to take a loss in selling land to the Town of Basalt. The CDC owns land along the Roaring Fork River that the town is eyeing to turn into a community park. A ballot measure posed to the voters this fall will ask if the town should buy that land for the appraised value  - $2.9 million. Currently, the CDC owes more than that amount on the land, and would be taking a loss. But in a memo released yesterday afternoon, Mike McVoy, board president for the community group, wrote that his group understands that the town has a fiscal responsibility to the public to pay no more than the appraised value of the land.