Cash-poor millionaire ranchers, the Aratas came to a deal with POST

posted by Barry Parr on Dec 28, 2004 at 01:36 pm in
1 comments • Click to email this story

John and Clarence Arata are some of the last old-time ranchers in San Mateo County. The fall in the fortunes of local agriculture and the rise of Bay Area property values made them a paradox:  millionaires with no cash and an annual ranching income of less than $35,000. Developers would have given them millions for their 1,161 acres, but they don’t want to sell.

Instead, they sold the development rights to the Peninsula Open Space Trust for $4.7 million. Amelia Hansen of the San Mateo County Times paints a great portrait of one local family’s approach to the land use issues that are tearing Coastsiders apart.

Comments

Comment 1 by Mike Ferreira  on  Dec 30  at  9:07pm  •  All my comments • 

Every once in a while I get to enjoy reading an article which displays that the reporter really made an effort to get it just right. This is one of those. Excellent work by Amelia…

Mike


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