Queen Creek Town Council this week is scheduled to take a step toward a possible $240 million deal to purchase Colorado River water from western Arizona landowners.

On the agenda is the transfer of nearly $45.7 million in unused or excess funds from the town’s capital project accounts toward the deal, which will be part of an overall purchase scheduled to go before Council on Nov. 19.

Town Manager Bruce Gardner told Council in a memo that Queen Creek “has an opportunity to purchase an additional 12,000 acre-feet to reduce its reliance on the Central Arizona Groundwater Replenishment District and provide an assured water supply to its residents.”

He added the offering price of $20,000 per acre is good until Feb. 15.

In advance of Council’s meeting, the town will hold an informational se

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