Board Committees

Susan Heitmann is an independent director of the Company.  Ms. Heitmann has over 30 years of accounting and finance experience. Ms. Heitmann is a retired partner from KPMG, based in Denver, Colorado, where she started as an associate in 1987. Ms. Heitmann has served as an auditor for SEC clients, private equity entities as well as large privately held companies. Ms. Heitmann received a Bachelor of Science degree from the University of Illinois. 

Patrick Beirne is an independent director of the Company. Mr. Beirne is a homebuilding executive with nearly three decades of experience and a track record of operational excellence and sound strategic planning for businesses that require infrastructure and business development. Mr. Beirne is currently President of Nelson Pipeline Constructors, a leading utility contractor specializing in the construction of underground sewer, water, and storm sewer pipelines. Prior to working at Nelson Pipeline Constructors, he worked at Pulte Group, Inc. for 29 years in various roles, including Central Area President. As Central Area President, and a member of Pulte Group’s executive team, he helped develop strategies for the firm’s long-term vision, oversaw operations in 10 states, and consistently grew the operation faster than other Pulte operations. Mr. Beirne earned a BS degree from Michigan State University, is a Licensed General Contractor (Florida), and is active in many community and charity organizations.   

Fredrick (Rick) A. Fendel III is an Independent Director of the Company. Mr. Fendel brings over 40 years of water rights legal experience to the Board, representing the Company in its water rights matters for the past 18 years. Mr. Fendel retired from his law practice in 2020 and was elected to the board of directors in 2021. Mr. Fendel received a BA degree from the University of Colorado and a JD degree from the University of Michigan Law School.

Daniel R. Kozlowski is an Independent Director of the Company. Mr. Kozlowski is the founder and managing member of Plaisance Capital LLC, which is the company’s largest shareholder. Mr. Kozlowski brings more than 20 years of institutional investing experience to the Board having worked at Janus Capital Corporation as a portfolio manager of approximately $4 billion of capital in the Janus Contrarian Fund.  Mr. Kozlowski earned a BBA from the University of Miami and an MBA from the University of Chicago’s Booth School of Business.  

Fredrick (Rick) A. Fendel III is an Independent Director of the Company. Mr. Fendel brings over 40 years of water rights legal experience to the Board, representing the Company in its water rights matters for the past 18 years. Mr. Fendel retired from his law practice in 2020 and was elected to the board of directors in 2021. Mr. Fendel received a BA degree from the University of Colorado and a JD degree from the University of Michigan Law School.

Jeff Sheets is an Independent Director of the Company. Mr. Sheets has been a real estate development executive for over 35 years, specializing in commercial real estate. He has extensive knowledge in office, retail, industrial flex development, land development, master planning, and entitlements for both residential and commercial projects, land acquisitions and property assessment. For the past 29 years, Mr. Sheets has been a Vice President at Koelbel & Company, a private Colorado commercial and residential development company, and has been involved in projects throughout the Front Range of Colorado. He earned an undergraduate degree from Westmont College in Santa Barbara and a master’s degree from the University of Denver.

Wanda J. Abel is an Independent Director of the Company. Since 1993, Ms. Abel has been a partner at the law firm of Davis Graham & Stubbs LLP, a Denver, Colorado-based firm, where she began as an associate in 1986. She has served as corporate counsel to the Company since 1990 and as securities counsel from 1990 to 2020. In addition, she has represented both public and private companies in securities matters, mergers and acquisitions, complex commercial agreements, financings, and ventures, and served as in-house counsel for an NYSE listed company. Ms. Abel received a Bachelor of Arts degree and a Master of Library Science from Indiana University and a Juris Doctor degree from the University of Colorado Law School. In determining Ms. Abel’s qualifications to serve on the board of directors, the board has considered, among other things, her expertise in securities law, corporate governance, and complex commercial agreements, in particular her extensive knowledge of and experience with our State Land Board Lease and the other Rangeview Water Agreements.

Daniel R. Kozlowski is an Independent Director of the Company. Mr. Kozlowski is the founder and managing member of Plaisance Capital LLC, which is the company’s largest shareholder. Mr. Kozlowski brings more than 20 years of institutional investing experience to the Board having worked at Janus Capital Corporation as a portfolio manager of approximately $4 billion of capital in the Janus Contrarian Fund.  Mr. Kozlowski earned a BBA from the University of Miami and an MBA from the University of Chicago’s Booth School of Business.  

Jeff Sheets is an Independent Director of the Company. Mr. Sheets has been a real estate development executive for over 35 years, specializing in commercial real estate. He has extensive knowledge in office, retail, industrial flex development, land development, master planning, and entitlements for both residential and commercial projects, land acquisitions and property assessment. For the past 29 years, Mr. Sheets has been a Vice President at Koelbel & Company, a private Colorado commercial and residential development company, and has been involved in projects throughout the Front Range of Colorado. He earned an undergraduate degree from Westmont College in Santa Barbara and a master’s degree from the University of Denver.