The City of Boulder has withdrawn its $6.6 million offer to buy the 179-acre Shanahan ranch to preserve as open space.
Boulder Open Space and Mountain Parks said they are reviewing all purchases until more information becomes available on how the shrinking economy will affect sales tax revenue.
The city wanted to purchase the Shanahan property — west of Colorado 93 and south of Fairview High School — by selling bonds. The city already has paid the family $1.9 million for an agreement allowing the family to develop one of the parcels at the southeast corner of the property. No other development would be allowed under that agreement.
The city’s newest proposed plan would have let the family build a barn and a 500-square-foot addition to its existing house.
