Rejection after agreement in principal to negotiate in good faithRomspen Vistoso LLC, the Canadian based owner of Vistoso Golf Course, has rejected a "fair market value offer" for the purchase of the property by The Conservation Fund. The goal was for TCF to purchase the land so that is could be added to the town's open space system. TCF plans to maintain open lines of communication with Romspen.
Preserve Vistoso to shocked by decision...
The group Preserve Vistoso has been working tireless for the past several years to bring establish this property as a preserve for all to use. Their comments follow: "Preserve Vistoso members are shocked that Romspen Investments, a $3 billion Toronto investment company, rejected an offer from the Conservation Fund (TCF) to purchase the former 208-acre Vistoso golf course property at fair market value. Preserve Vistoso members invited TCF to negotiate with Romspen to purchase the property so that it would be added to the Town of Oro Valley’s public open space for all to enjoy in perpetuity. TCF and Romspen agreed on the selection of a company to do the property appraisal to determine fair market value. On September 30, Romspen rejected TCF’s offer to purchase the property at the fair market value.
...Seeks communities continued support at October 13 General Plan Amendment Meeting
Our next step is to continue to urge our 1,350 Preserve Vistoso members to voice our opposition to Romspen development plans in our Oro Valley neighborhood. We are urging our members to participate in the October 13 Planning and Zoning zoom hearing on Romspen’s proposal to continue its community hearings. Romspen’s development plans include several hundred new homes in locations throughout the property as well high density development in some areas."