• September 30, 2020
ROMSPEN REJECTS TCF'S FAIR MARKET VALUE OFFER
This afternoon we learned that Romspen has rejected The Conservation Fund's offer to buy the Vistoso property for fair market value. Please see below for a message from The Conservation Fund with more information about this latest development.
Romspen's rejection of TCF's offer is very disappointing to all our members and the wider Oro Valley community. Preserve Vistoso will send out additional information in the upcoming days about next steps and important ways for the community to participate.
UPDATE FROM THE CONSERVATION FUND
September 30, 2020 - As you may know, The Conservation Fund (“Fund”) began a partner-driven effort with the local non-profit Preserve Vistoso, local residents, the Town of Oro Valley and other key individuals regarding the community’s desire to protect the former +/- 208 acre Vistoso Golf Course (the “property”) so that it would be added to the Town’s public open space system for all to enjoy in perpetuity. This past July, the Fund entered into a purchase contract with the property owner, Romspen Vistoso, LLC, and subsequently made an offer based upon the fair market value of the property established under a mutually acceptable process. The report was prepared by an experienced independent 3rd party appraiser (CBRE), using joint appraisal instructions consistent with the Uniform Standards for Federal Land Acquisitions, commonly known as the ‘Yellow Book’.
Regrettably, the seller has elected not to accept the Fund’s offer at this time and has terminated the contract. Despite our best efforts to reach an agreement we will continue to keep an open line of communication with Romspen, the community, and the Town of Oro Valley in support of this worthy endeavor should something change.
The Fund shares your passion to preserve this important and unique property and we have thoroughly enjoyed the opportunity you have allowed these past months. We also appreciate the trust and confidence you have shown us as we have endeavored to work together towards common goals. We want to sincerely thank every one of you for your financial generosity, valuable input, and support during this time. As we continue to coordinate with you, we will contact those who made financial pledges and/or direct donations in support of the acquisition of the property. Direct financial gifts received by the Fund will be returned in full, or in part, subject to individual donor preference.
Finally, we encourage you to visit our website www.conservationfund.org to learn more about our work. If you wish to support the Fund, and the work we have accomplished as a nationally respected conservation organization that has preserved and protected over 8 million acres since 1985, we can continue to put your charitable gifts to work. All contributions are fully tax deductible under our not-for-profit 501(c)(3) status. We welcome your contributions and continued support as we strive to help provide long-term benefits for America’s lands, waters, and communities. No matter what inspires you to give today, or in the near future, you can trust that we will put your donation into action and create lasting results for nature and for people that balances economic development with important conservation objectives.
For general inquires or information on ways to give, please contact Kirste Kowalsky, Arizona Field Representative for The Conservation Fund at firstname.lastname@example.org.
For all other questions or concerns please contact Mike Ford, Nevada and Southwest Director for The Conservation Fund at email@example.com. ]