Jeff Scott's questions to Pure Cycle Corp (PCYO) leadership • Q1 2025
Question
Jeff Scott inquired about potential pushback on rising tap fees, the timeline for commercial development at Sky Ranch, and the long-term development schedule for the Lowry Ranch property.
Answer
Executive Mark Harding confirmed there has been no competitive or political pushback on its combined tap fees of around $40,000, as they remain in line with or below regional competitors like the City of Aurora. He projected that commercial development at Sky Ranch would gain momentum in 18-24 months, with transactions likely in 2026 and significant monetization in 2027, corresponding with the community reaching a threshold of approximately 1,500 homes. For Lowry Ranch, Harding estimated a 2-to-5-year timeframe for development to begin, contingent on the state land board's complex decision-making process.