San Angelo offers Ford Ranch for $52M, keeps water rights
SAN ANGELO, Texas (AP) — A West Texas city that in 2017 bought a nearly 33,000 acre (13,355 hectare) ranch to ensure its municipal water supply has offered to sell the property for nearly $52.5 million.
The San Angelo Standard-Times reports the for-sale sign is up at the Ford Ranch, located in parts of Concho, McCulloch and Menard (muh-NARD’) counties.
San Angelo purchased the Ford Ranch for about $44 million. Listing agent King Land and Water says the ranch was acquired to preserve access to the Hickory Aquifer.
The city of about 100,000 relies on lakes and reservoirs for water. San Angelo in the 1970s purchased rights to own and manage the Hickory Aquifer as a hedge against drought-related shortfalls.
San Angelo, in any ranch sale, would require deed restrictions to preserve its aquifer access.
Information from: Standard-Times, http://www.sanangelostandardtimes.com