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Central Colorado WCD November 19-21, 2003 Agenda Item Be (Updated November 21, 2003) Water Project Construction Loan Program-Project Data Borrower: Ground Water Management Subdistrict of the Central Colorado Water Conservancy District Project Name: Well Augmentation Project Type: Purchase Water Rights and Construct Storage Facilities Counties: Weld, Adams, Morgan Drainage Basin: South Platte Water Source: South Platte Total Project Cost: $22.85 million Funding Sources: Borrower and CWCB Type of Borrower: Agricultural Median Household Income: N/A CWCB Loan: $5 million Interest Rate: 2.5% Term: 30 years Annual depletions covered: 22,260 acre-feet The Ground Water Management Subdistrict of the Central Colorado Water Conservancy District is located in Adams, Weld, and Morgan counties. The Subdistrict has operated an augmentation plan since 1973 and currently has 966 agricultural member wells and an annual depletion of 22,260 acre-feet. The 2001 Colorado Supreme Court decision concerning "Empire Lodge" now makes it necessary for the Subdistrict to acquire additional senior water rights and build more storage and water recharge facilities to augment out-of-priority diversions. The Subdistrict was authorized under the Water Conservancy Act of 1937 and has the power to acquire water rights, construct and operate facilities, levy taxes, and issue debt subject to the provisions of TABOR. The Subdistrict has completed the feasibility study. Funding will come from a $15 million CWCB loan recommended in November 2002 and a $5 million CWCB follow-up loan approved in November 2003, for 90% of the cost. The Subdistrict will fund the remainder. (Location Map on Reverse) 7