The last 900 acres of the city's 8,500 acres on the back side of Loafer Mountain has been sold to a Provo development company. The City Council made that announcement following a closed meeting Wednesday.
EsNet Properties bought the acreage for $672,000, according to David Oyler, city manager. Earlier, Hearthstone Development Co. bought some 7,600 acres for about $2 million.The city bought the land from Bow Valley Development Co. in 1991 for $1.6 million for the water, which it retained when it sold the land. It developed a $350,000 collection basin with a clay dam in the Crab Creek area that will eventually connect to it new reservoir near Covered Bridge, Oyler said.
The water from mountain springs on the property should satisfy city needs for the next half century, officials say.