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3. Grand county request for $1.5 million to purchase 80 shares, or 22% of water in the Vail Ditch. Presented by Mike Wageck, Manager of the Winter Park Water and Sanitation District and CBR T member. a. There is 850 acre feet available in Meadow Creek that services the Vail Ditch, so 22% amounts to 187 acre feet. The asking price is $3 million, of which the SB 179 grant request is for $1.5 million. At a price tag of$3 million, this amounts to a cost of$16,043 per acre foot. b. Winter Park will use the water for municipal and industrial purposes, or leave it in the water for recreational needs. 187 acre feet amounts to .25 cfs annually. However, based on seasonality, this purchase could leave up to 4.9 cfs in the river, which would more than double the flow that the Fraser River declined to in the 2002 drought. c. Bill Bates stated that Denver Water supports this grant request. Denver Water initially wanted to purchase this water, but backed off when it learned of Winter Park's interest. No new facilities will be required to use this water. d. This is the first time any Vail Ditch shares have been available for sale for a long time. e. The CBRT approved the Statewide funding request with 26 affirmative votes. 4. Bull Creek Reservoir Company request for $250,000 to improve reservoir, presented by Irvin Johnson, President. a. Bull Creek Reservoir Company was incorporated in 1896; it has 25 shareholders, and 800 acres are irrigated by the reservoirs. The CWCB approved a $1.2 million loan to enlarge the reservoir, or 90% of the needed funds, and Palisade National Bank provided bridge financing for the remaining 10%, or $150,000 total. This grant request would replace the bridge financing. b. It would provide additional storage for 100 more acre feet. c. The request received 13 votes for CBRT funding and 16 votes for Statewide funding, and it did not pass. 5. Eagle Park Reservoir Company, presented by Rick Sackbauer and Tom Allenby ofthe Upper Eagle River Water Authority, and Bob Weaver, P.E., Hydrosphere, Boulder, CO. a. The Eagle Park Reservoir was originally a tailings pond of the Climax mine, 3 miles northwest of Fremont Pass between Leadville and Copper Mountain. It has been cleaned by Climax and is no longer toxic. b. By raising the dam height 2 lh feet, capacity increases by 150 acre feet, and 78 new acre feet firm yield will result. c. For a budget of$353,000, the final design will be completed, Army Corps of Engineers Section 404 approval and Eagle County 1041 approval will be obtained, and the State Engineer will approve the dam safety and design. L\CWCB Imaging\Caleb\Minutes\Colorado\2006\Minutes Dec 2006 CBRT (2).doc 4 7/I<