CSU, UW sale of Y Cross Ranch stirs debate

LARAMIE – Some are feeling betrayed after the University of Wyoming and Colorado State University foundations completed the sale of the 60,000-acre Y Cross Ranch last week for an undisclosed sum on a $25 million list price.

The ranch was donated in 1997 with the intent it would remain a working cattle operation that provided hands-on education for University of Wyoming and Colorado State University students while generating scholarships with ranch revenues. A 2012 complaint by the donor said the universities’ foundations would “unjustly profit” from the sale of the ranch, which the donor felt was underutilized.

However, UW said the sale of the ranch was in line with the endowment and that the university did nothing wrong in seeking the sale. A spokesman at the time said selling the ranch was a valid contractual option after 14 years in operation. Those 14 years were up in 2011.

The ranch hadn’t always turned a profit, meaning the educational endowment it was supposed to create was hobbled, leading the universities to seek its sale. The Wyoming Supreme Court in 2014 sided with the universities, despite the donor’s wishes, paving the way to sell the ranch after it was yanked from the market because of the controversy. In June, the universities reopened the sale and last week finalized the transaction.

A group that had been vocally opposed to the sale last week on its Facebook page said it was meant to offer students opportunities on an “extraordinary piece of land.”

“Alas, the universities have chosen a short-sighted monetary gain over long-term learning programs,” Save the Y Cross Ranch said on its Facebook page. “Let this be a stern warning to anyone who ever considers donating to these universities: education is secondary to financial gain, and they don’t honor donors’ intentions.”

While the final sale price wasn’t given by either university, UW in a release said proceeds from the sale of the ranch will create a new UW endowment fund designated for the College of Agriculture and Natural Resources in excess of $10 million. It will contribute an estimated $400,000 annually for academic programs, student scholarships and agriculture/natural resource research.

“This is a very exciting development for students and faculty in agriculture and the related natural resources at UW,” said Frank Galey, dean of UW’s College of Agriculture and Natural Resources in a release. “The proceeds will provide them with tremendous opportunities and experiences in an industry of utmost importance to Wyoming and its people.”

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