RE:ShnepsSometimes just asking very simple straight forward questions is best.
Sage Ranch received full development approval based on the amount water rights it had at the time of the approval. "The company has now fulfilled and exceeded its water purchase obligations to the City for Sage Ranch."
1. Why did shareholders have to purchase 340 additional acres of water for Sage Ranch?
Referencing a "multi-million dollar effort..." does not necessarily entail that the rights were physically paid for by dedicated shareholders.
2. How were the water rights acquired and what are the financial ramifications to shareholders?
3. Were the water rights physically purchased by GRB or merely shared from another entity's rights holdings?
4. Was the action of purchasing or sharing the 340 acres of water rights the "negotiated settlement" results with the Water District?