The Great Sand Dunes National Park
Farrallon purchased 100,000 acres of land and its surface water rights through an entity it controlled, Cabeza de Vaca Land & Cattle Co, LLC. The land was part of the historic Baca Grant in the San Luis Valley near Alamosa, Colo., and adjacent to the Great Sand Dunes National Monument. Cabeza intended to use the land to develop a water project, but after spending several million dollars, the company determined that the planned development was not possible. Minority members of the LLC objected and filed liens and litigation in several venues to prevent the sale.
In arbitration in state court and federal court, two judges and three arbitrators determined that the sale could proceed. The title was cleared and the water challenges resolved. The result was the sale of the Baca Ranch to the federal government and creation of the Great Sand Dunes National Park.
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