DURANGO MESA PARK FOUNDATION

ON JUNE 10, 2021, THE FOUNDATION COMPLETED A REAL ESTATE TRANSACTION WITH THE CITY TO SELL APPROXIMATELY 182.882 ACRES TO THE CITY, FOR $1,500,000 (PARCEL 1A) AND TO DONATE APPROXIMATELY 65.101 ACRES TO THE CITY (PARCEL1B, COLLECTIVELY THE PARCELS). THE PARCELS ARE ADJACENT TO EACH OTHER AND ABOUT THE HORSE GULCH TRAIL SYSTEM IN THE CITY. THE FOUNDATION EXPECTS THE TRANSACTION WILL FURTHER THE FOUNDATION'S MISSION ON THE REMAINING LAND, ASSIST WITH FUNDING FOR CRITICAL INFRASTRUCTURE AND FURTHER FUTURE COOPERATION WITH THE CITY ON THE PARK DEVELOPMENT WITH NECESSARY INFRASTRUCTURE IN THE AREA. THE COST BASE OF THE SOLD AND DONATED LAND WAS $2,033,308 AND THE SALE AND DONATION RESULTED IN A DONATION BY THE FOUNDATION TO THE CITY OF $533,308 DURING THE YEAR ENDED DECEMBER 31, 2021.