Paonia properties under contract
By Tamie Meck
Published Thursday, December 8, 2016 10:13 am
Three parcels of land owned by the Town of Paonia and listed through Western Colorado Realty.com are under contract just weeks after going on the market. All parcels are located in unincorporated Delta County.
The parcels include a 57-acre lot located at 38976 Highway 133. The town is in the process of subdividing the parcel into three lots, according to Paonia Mayor Charles Stewart. The first lot will include a house and 1.5 acres of land, which is under contract for $190,000. The second lot is approximately 11 acres of vacant land and is under contract for $150,000. The remaining 44 acres includes the town's wastewater treatment plant and ponds and will be retained by the town.
The town purchased the land and 3.42 shares of North Fork Valley Farmer's Ditch water rights in 1998. The town is negotiating with the buyers for the water rights, said Stewart. If subdivision is approved by the county, which isn't expected until February at the earliest, sales could close as early as within 21 days of approval, said Stewart. The North Fork Area Planning Commission is scheduled to meet Dec. 14 at Paonia Town Hall to review the application and will make a recommendation to the Delta County Planning Commission.
A 38-acre parcel located at 38784 Marsh Road that includes rights to 35 shares of Monitor Ditch irrigation water is under contract for $220,000 and is scheduled to close Feb. 28, according to Stewart.
All three contracts are subject to contingencies, said Stewart. Since the properties were purchased with sewer fund money, all proceeds will go into the sewer fund.
At the Nov. 22 board meeting, Mayor Pro Tem David Bradford suggested the board consider another parcel for possible sale. He said he learned recently that the town owns a vacant lot that, as far as he can tell, has never been utilized. The roughly one-plus-acre parcel is located below the McCluskey Wildlife Easement at the south end of 4050 Road.
"I think it's a pretty prime candidate for the town looking at disposing of" in the coming year, said Bradford.
He obtained a copy of the deed of trust from Delta County. "They acquired it in 1947 as part of a larger acquisition" that included property on Bell Creek where the former town springs are located. According to the deed, said Bradford, the cost was "ten dollars and other valuable consideration."
The county values the parcel at $58,000, with an assessed value of just under $17,000. Bradford estimates the annual property taxes at just under $1,000. One- to two-acre parcels in an adjacent subdivision have sold for $75,000 or $80,000 in the past few years and have similar assessed values, he said.