SANTA BARBARA - Ronald Reagan's Santa Barbara County mountaintop Rancho del Cielo has been sold, according to local sources. Marc Short, executive director of a conservative organization serving high school and college students known as Young America's Foundation said plans have been finalized to open a Ronald Reagan Leadership Development Program on the remote acreage.
Foundation officials declined to disclose the price or other details of the sale, which will be completed Monday afternoon.
In nearby Simi Valley, officials at the Ronald W. Reagan Presidential Library & Museum did not have any information on the sale of the ranch.
The property has been advertised widely since the Fall of 1996 with an asking price of nearly $6 million.
'We are tremendously excited to be able to share President Reagan’s vision, principles and ideas with America’s future leaders at one of the places he loves most. Young America’s Foundation is committed to preserving and protecting both the Reagan legacy and the ranch itself, which will be
maintained just as it was when President Reagan lived here,' Ron Robinson said. 'We are especially grateful to President and Mrs. Reagan for their support for our future plans for its future.'
When the Reagans purchased the remote property in 1974 they paid somewhat more than $500,000.
Foundation conferences and seminars will not require any changes to Spanish style buildings at the Ranch located about 30 miles Northwest of Santa Barbara.
Following closing the sale, Nancy reagan told reporters 'Ronnie and I are delighted that Young America’s Foundation will be the new owners of Rancho
del Cielo...We hope that our ranch will be a spark for many bright, young Americans in the years ahead.'
Young America's Foundation was formed in order to provide essential conferences, seminars,educational materials, scholarships, and speakers to the young people of America.
As an educational organization, the Foundation strives to acquaint American youth with the principles of American
government and the genius of the American political system in order that they may have a fuller understanding of contemporary public policy questions.