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SNWA in negotiations to buy Eldridge Ranch (complete article from source)
Source: The Ely Times
March 23, 2007
The family of White Pine County Commission Chairman Brent Eldridge has begun negotiations to sell its Spring Valley ranch to the Southern Nevada Water Authority.
The board of directors of George Eldridge and Sons, Inc., which includes Chairman Eldridge and his brothers, nephews, nieces and mother, voted unanimously March 10 to offer the 6,300-acre Eldridge Ranch for sale.
The family's decision came just days before the Southern Nevada Water Authority's board voted to purchase two other Spring Valley ranches for more than $43.5 million. By acquiring the Huntsman and El Tejon ranches, the water authority became the largest landowner in Spring Valley.
The seven Spring Valley ranches now owned by the water authority have an assessed value of $1,358,049. Altogether, those properties contribute $49,704.60 to the county's tax rolls each year.
According to Eldridge, agency representatives have told his family that they understand the importance of maintaining the county's tax base. They have also indicated that the water authority tends to keep the land in agricultural production, he said.
Eldridge said he remains hopeful that the ranch's agricultural traditions will continue in the event of a sale.
“We believe there may be an opportunity for our family to lease back some of that acreage,” Eldridge said.
The Eldridge Ranch is perhaps the last of the original Spring Valley ranches.
Eldridge's grandfather began putting the ranch together in the early 1920s. In 1928, he added a key piece to the property with the purchase of the Eight Mile Ranch.
The ranch was first incorporated in 1962 and has since been run by a board of directors comprised of family members.
Eldridge believes the property includes about 20,000-acre-feet of permitted, certificated and vested annual water rights, along with additional water applications which may go with the ranch.
Following his announcement of the negotiations last week, Eldridge informed county commissioners that he would abstain from voting on any issues related to the Southern Nevada Water Authority.
Eldridge noted concerns were raised last year that he might have a conflict of interest in dealing with the agency because his family owns land in Spring Valley. But the Nevada Commission on Ethics ruled he had no conflict, as long as there were no actual negotiations underway.
Nonetheless, Eldridge resigned from the Ad Hoc Discussion Committee that conducted talks with the water authority.
Click here for complete article from The Ely Times
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