‘A great price’: Cedar City buys over $240K in water rights
The Cedar City Council approved a purchase of 15-acre feet of water for over $240,000 at last Wednesday’s meeting. The proposal was first presented at the Nov. 6 City Council meeting. Manager Paul Bittmenn said that Kimbal Holt with KS Cedar Ridge planned to sell 15-acre feet of water rights. Cedar City had a right of first refusal, meaning the city had a right to purchase the water before a transaction could be entered with a third party. The total cost of the water rights was $240,750.00 — $16,050 per acre-foot, Bittmenn said. The city and the company will split the closing costs, and the purchase was set to close on Nov. 15.