Eagle River Preserve

Bringing Eagle River Preserve to fruition is an opportunity everyone can participate in – from school children to government leaders. Preservation will only happen if a true public-private partnership commits, in a short amount of time, to deliver the significant resources necessary to accomplish this feat. Please review the following questions and answers to learn more about Eagle River Preserve. Feel free to email additional questions to: erp@vvf.org

How did this effort to preserve come about?

The opportunity was initially identified by long-time local Jen Wright, who not only contacted the Vail Valley Foundation, but also was instrumental with the negotiations. An option on the parcel purchased by a local developer to build a high-density retail and residential complex lapsed in July of 2004, allowing the foundation to put forth its proposal.

What happened to the existing option held by a local developer?

The option lapsed in late July of 2004 and the Eaton family expressed an interest in preserving the Eaton Ranch as open space. That is fundamentally why the foundation chose to take the lead in preserving the parcel.

Why is the Vail Valley Foundation taking the lead on this project?

The Vail Valley Foundation's (VVF) official role has always been to provide leadership in athletic, educational and cultural endeavors to enhance and sustain the quality of life in the Vail Valley. But the foundation expanded its role to seize this opportunity because the preservation of open space in the heart of Edwards' residential and commercial area fits so well with the foundation's overarching mission. The VVF is also the ideal organization to spearhead this effort because of its expertise to broker the large-scale public-private partnership necessary and in a short amount of time. A similar effort by the VVF is when the organization took over the fund-raising process for the Gerald R. Ford Amphitheater in 1987.

What is the cost to purchase the 72 acres and what is the financial breakdown among contributors?

The VVF has a one-year option on the parcel (expiring Sept. 1, 2005) and must raise $12 million in that year. The intent is to tap local governmental entities; neighborhood associations; local, regional and national land use boards; the business community and individuals.

On Jan. 20, the Eagle County Board of Commissioners will consider a $6 million funding request from the VVF. The monies requested of the county would be from existing funds and not require additional taxation of Eagle County citizens. The efforts to preserve Eaton Ranch represent a true public/private partnership; Eagle County will retain 100 percent ownership of the land and a conservation easement will be held by the Eagle Valley Land Trust.

What will Eagle River Preserve look like once it's secured as open space?

To ensure the ranch's green future, clear, strong and legally enforceable provisions will run with the land. They will be written so that the land will remain open space - permanently. A limited number of passive improvements to the property are being considered, including nature trails; walking and biking paths; ponds and fishing areas; as well as shelters and facilities that are ADA-friendly.

What makes open space the most economically viable option for the land?

According to a 1993 study, providing infrastructure and other services to accommodate new development may cost more than the development generates in property tax and other revenues (Altshuler et al. 1993). Therefore, open-space preservation may be the most economically viable option. The study had three important findings regarding land use:

1. Residential development typically incurs a net fiscal deficit.

2. Nonresidential development generates a fiscal surplus, but attracts residential development.

3. Open space is fiscally better than residential development and equal to or better than nonresidential development.

Some examples of this include:

•		The Northeastern Office of the American Farmland Trust studied six rural towns in Connecticut, Massachusetts and New York State and found that on average residential development required $1.13 in municipal services for every $1 of revenue generated. Farm, forest and open space land required only $0.29 in services per dollar of revenue (Freedgood and Wagner 1992).
•		The Commonwealth Research Group (1995) studied 11 southern New England towns using the American Farmland Trust methodology and found that on average, for every dollar of revenue raised, the towns spent $1.14 in services for the residential sector, $0.43 for the commercial/industrial sector, and $0.42 for forest, farm and open space.

How could the Eagle River Preserve affect the value of surrounding property?

A 1978 study (Correll et al.) found that in Boulder, Colo., the existence of greenbelts (linear open space features such as trails or stream corridors) had a significant impact on adjacent residential property values. Properties adjacent to greenbelts in the three neighborhoods studied to be worth an average of 32 percent more than those 3,200 walking feet away. The relationship was linear: a $4.20 decrease in the price of residential property for each foot away from the greenbelt.

How will the Eagle River Preserve benefit future generations?

The open space proposed for Eagle River Preserve is nonconsumptive, meaning that one person's enjoyment of the space does not diminish its availability for others. In that sense, everyone in the community benefits from its establishment, and will for generations to come. Were the land to be developed, it will be forever lost to future generations. In Vail, the founding fathers had the foresight to set aside huge tracts of open space that contain some of the valley's most vital amenities. The Vail Valley Foundation, the Eagle Valley Land Trust, the Gore Range Natural Science School and the Eagle County Board of Commissioners felt compelled to take a similar role in the Edwards parcel because of the unique and pressing nature of this opportunity.

Could Eagle River Preserve affect tourism revenue?

The President's Commission on Americans Outdoors (1987) found natural beauty to be the single most important factor for people choosing a tourist destination. Eagle River Preserve is another way of showcasing the natural splendor of Eagle County.

What if you don't raise the money in a year's time?

The VVF is very confident that it will raise the $12 million. Organization officials have already have heard from a number of people and entities who have expressed a shared belief that the quality of our community only increases when we are able to preserve open space in the heart of a residential and commercial area such as Edwards. To easily be able to access riverfront and valley floor open space is a precious gift - a gift that we can give to ourselves and future generations.

What will happen to the gravel pit?

The property is currently leased to B&B Excavating, which up until recently was utilizing the space for a gravel pit. Those operations have permanently shut down and renovation and restoration to historic grading levels are expected to begin in late spring or early summer of this year.

If the foundation's fund-raising efforts are successful, will the 72 acres always remain open space?

Yes. This vision for this parcel is that its only inhabitants are wildlife - forever. To ensure that Eagle River Preserve remains as open space permanently, clear, strong and legally enforceable provisions will run with the land. Eagle County will retain 100 percent ownership of the land and a conservation easement will be held by the Eagle Valley Land Trust.

What improvements and/or facilities would be built on the parcel, who would pay for them and who would maintain them?

A limited number of passive improvements to the property are being considered, including nature trails; walking and biking paths; ponds and fishing areas; as well as shelters and facilities that are ADA-friendly.

If the 72 acres are not preserved as open space, what will happen to the parcel?

Development of this parcel will occur. Development would include possibly more homes, more shops, more restaurants, more offices and more traffic.