
The annexation option was to continue into further annexation proceedings with the San Miguel Valley Corporation, the current owner of the 793 acre property. The Telluride Town Council, had unanimously supported a "Yes" vote to continuing negotiations since the preliminary annexation agreement would have preserved 91% of the property in a conservation easement ensuring public access.But the proposal also included development of a parcel along the highway into town and the large meadow would be split in two by 22 multi-million dollars homes - a sore spot with many voters. The community now faces a fundraising effort to purchase the property (recently valued at $48 million) after a valuation trial . Telluride has already raised about half that amount.
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