In accordance with a land exchange deal with the federal government, Colorado’s Boot Jack Ranch, owned by Kelcy Warren, will transfer 880 acres of land to the San Juan National Forest. In 2010, Warren paid $47 million for the 3,151-acre ranch, which is located outside of Pagosa Springs.
In exchange, Kelcy Warren, the executive chairman and co-founder of Dallas-based Energy Transfer, will receive $30,000, as well as 379 acres of public land. He was paid less than the $88 million original asking price for the Boot Jack Ranch property.
Warren’s 880-acre Valle Seco tract was independently assessed by William B. Love Appraisals at $3.08 million, which is $30,000 higher than the value of the public land that is being transferred to Kelcy Warren. The Forest Service mandates an equivalent trade within a 25% range. Since the Forest Service must bear the cost of the discrepancy between the value of the two parcels, they added the $30,000 difference in monetary compensation.
The Weminuche Wilderness and San Juan National Forest, two important natural regions that comprise seven miles of the West Fork of Wolf Creek and the San Juan River, border Jack Ranch on three sides.
In documents, the Forest Service Agency contended that “acquiring [Valle Seco] will prevent development of the plot if it remains in private possession.”
The public land parcel is a component of a designated roadless region that acts as a buffer for the South San Juan Wilderness. To enable large wildlife migrations through the area unhindered by traffic, the area is still devoid of roads.
After requesting access to the valuation records for the properties, one group, Colorado Wild Public Lands, filed a lawsuit against the Forest Service, alleging that the agency had violated the Freedom of Information Act. It was only later that the records were made available for perusal.
In addition, the discussion groups asked for the public comment time on the property swap with Warren to be extended. However, The Forest Service rejected the request for an extension.
With an approximate net worth of more than $4 billion, Kelcy Warren was listed 728th on Forbes’ World’s Billionaires List this year.
About Kelcey Warren
Kelcey L. Warren is the Chairman and CEO of Energy Transfer, a Dallas-based energy company with assets in Canada and 41 states in the U.S. As a boy growing up in the eastern part of Texas, Kelcy served as a Boy Scout.
Warren graduated from the University of Texas at Arlington with a degree in Civil Engineering. His first career job was with Lone Star Gas Company.
Just 14 years later, Kelcy Warren and a business partner, acquired and energy company named Endevco, which they changed to Cornerstone Natural Gas. Selling it four years after that, Warren co-founded his present company, Energy Transfer.
Warren created an endowment in 1997 at his alma university, UTA, in memory of a favorite professor. Warren also served as the primary donor for Dallas’ Klyde Warren Park, one of the country’s top three urban parks, named in honor of his son.
Warren organizes a yearly benefit for Cherokee Crossroads, Inc., a Texas organization that funds children’s charities. He is a member of the Texas Business Hall of Fame and has served on the board of The Lamplighter School. Warren is the recipient of both the Ernst and Young Entrepreneur of the Year Award and the Hanlon Award from the Gas Processors Suppliers Association.
Learn more about Kelcy Warren on Bloomberg: https://www.bloomberg.com/billionaires/profiles/kelcy-l-warren/