DENVER, Colo., Jan. 13, 2004 -- PureCycle Corp. announced that the Arapahoe County Board of County Commissioners unanimously approved the development plan for a new master planned community known as Sky Ranch.
The Board approval was subsequent to the Arapahoe County Planning Commission's unanimous approval of the Sky Ranch development plan in December of 2003.
In November, PureCycle announced the Sky Ranch Water Service Contract under which which the company will provide water service to this mixed-use development which will include single-family and multi-family residences as well as up to 1,000,000 square feet of commercial businesses.
The project is expected to generate up to $50,000,000 in capital fees as well as generate approximately $2,400,000 annually from water sales at build-out. Construction is expected to begin in summer of 2004.
Mark Harding, PureCycle's President, commented "We are extremely pleased with the high degree of support the Company, as well as the developer for the Sky Ranch, has received from the Arapahoe County Planning Commission and the Board of County Commissioners. PureCycle has received strong support for its advanced water management practices to use and conserve this precious and valuable resource in Denver's water-short region."
About PureCycle
PureCycle Corporation is engaged in providing water and wastewater services to customers located in the Denver metropolitan area, where its principal assets are located, and to other areas in the southwestern United States. The company owns or controls approximately 26,000 acre feet of water in the Denver area as well as 70,000 acre feet of Colorado River water in western Colorado.
