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'. The Consolidated Mutual Water Company Fortune Reservoir Project Concept December 31, 1998 Loan Application - Item IS Page 3 ************************************************************* After the demise of the Two Forks Dam and Reservoir Proposal in 1989, many water purveyors were left with finding other alternatives to their future water supply needs. The Consolidated Mutual Water Company (Consolidated) embarked upon an aggressive plan to manage its own destiny regarding its future water supply for the benefit of its stockholders. Consolidated is a mutually owned non-profit corporation which distributes water to its stockholders. The Company's service area is predominantly located in Lakewood, Wheat Ridge, and unincorporated portions of central Jefferson County, Colorado. See attached Exhibit "A". Consolidated intends to construct a dam and raw water storage reservoir with an ultimate capacity of 9,000 (+/-) acre feet. The project may be built in phases over a period of 4-5 years beginning no earlier than 1999. Approximately 60% of this raw water will be designated for Consolidated's drought protection and the balance for additional supply. Consolidated's source of the raw water is from the Company's Clear Creek facilities and Denver Water. The water will be used for municipal, irrigation, domestic, mechanical, commercial, industrial, recreation, fish and wildlife, augmentation and replacement and any other use necessary, desirable, or incidental to the operation of Consolidated's water system, reuse, successive use, and disposition. Reservoir operations from year to year will result in an annual summer/fall draw-down of the pool. The refill periods will be whenever the decree is in priority typically during late May and June of each year when water is available from Clear Creek. The reservoir will remain as full as possible and operate out of the top 25% to 30% of the available water supply. Drought conditions would cause the maximum draw-down, however, a conservation pool would be left to support aquatic life. Additional storage water may be available from Denver Water.