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<br />I , <br />I <br /> <br />SUMMARY OF PROPOSED PROJECf <br /> <br />/' <br /> <br />. <br /> <br />Proiect Sponsor~ The Eagle Park Reservoir Company. The shareholders in the Company are: <br />the Board of County Commissioners of Eagle County, Colorado River Water Conservation <br />District, Eagle River Water & Sanitation District, Upper Eagle Regional Water Authority, and <br />The Vail Corporation dba Vail Associates. <br /> <br />Type of Proiect: Commercial and Municipal <br /> <br />Proiect Name: Eagle Park Reservoir <br /> <br />Location: Climax Mine near the summit of Fremont Pass in Eagle County (see the attached <br />map) <br /> <br />Date of Loan Applications: August 31, 1995 and November 5, 1996 <br /> <br />Date Feasibility Study Received: Various documents have been received since August 1995. <br /> <br />. <br /> <br />Proiect Description: The project involves the rehabilitation of an existing mine tailings site <br />within the boundaries of the Climax Mine near the East Fork of the Eagle River. The owner <br />of the reservoir site, Cyprus Climax Metals Company,lhas removed about one-million cubic <br />yards of mine tailings and rehabilitated the site for use as a fresh water reservoir. The <br />capacity of the site is about 3,000 acre-feet. The dam is an earth embankment structure <br />which has been in place for over 30 years. Water could be supplied to the project from <br />tributaries of the Eagle River, Ten Mile Creek, and the Arkansas River through existing <br />canals and pipelines. <br /> <br />/1,~ Water Rights: The reservoir will store water under pending decrees in Case Nos. <br />/J-tV f""'J ~~ Several exchanges are proposed for times when the reservoir <br />Vt':1l/,1 $ ~ water rights are not in priority and are described in the application in Case No. 95CW348. <br />I d(;'tft-t These rights will be limited by CWCB instream flow rights on the Eagle River and its <br />tributaries. <br /> <br />Estimated Firm Yield: 2,000 acre-feet <br /> <br />Rehabilitation of the Site: To be certified by the Colorado Division of Minerals and Geology. <br /> <br />Estimated Cost The Eagle Park Reservoir Co. proposes to purchase the rehabilitated site <br />from Cyprus Climax for a total of $11,500,000. Vail Associates has already paid Cyprus <br />Climax $3,000,000 for 500 acre-feet of yield. <br /> <br />Requested Loan: The Board gave conditional approval in 1996 for $3,125,000 for 30 years as <br />authorized in the 1996 Construction Fund bill. The applicant is requesting an additional <br />$5,375,000 in the 1997 Construction Fund bill for a total of $8,500,000 in CWCB financing. <br /> <br />- <br />