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<br /> <br />;;12545B <br /> <br />demand in the next 10 years ranges from 4,600 to 5,400 af7yr. This amount of <br />water is needed to provide for the necessary domestic and snowmaking uses, while <br />preserving and protecting the decreed instream flows. The demand for additional <br />water increases to 10,500 acre feet at full build-out conditions. A copy of the table <br />from the Eagle River Assembly report which summarizes the estimated water <br />demands is attached hereto as Exhibit H. <br /> <br />The central feature of the project which the loan applicants seek to acquire and <br />develop is Eagle Park Reservoir. Originally known as Dam 4, Eagle Park <br />Reservoir is an existing facility developed by the Climax Molybdenum Company <br />during the 1960's for the storage of tailings. The capacity of the facility is in <br />excess of 3000 acre feet and the reservoir is located adjacent to an unnamed <br />tributary of the East Fork of the Eagle River. It is within the boundaries of the <br />Climax Mine and is situated in Eagle County. General area maps of Eagle Park <br />Reservoir are attached hereto as Exhibits F and G. <br /> <br />In 1993 Vail Associates purchased from Climax 500 acre feet of the Arkansas <br />Well and related storage rights. This is the state's only east to west slope <br />trans mountain diversion and is depicted on the attached Exhibit F. The funds from <br />this sale were used to reclaim Eagle Park Reservoir and, as part of the Arkansas <br />Well transaction, Vail Associates acquired an option to purchase 600 acre feet of <br />the firm annual yield of Eagle Park Reservoir. Vail Associates also obtained the <br />right to exchange its 500 acre feet of Arkansas Well water for an additional 500 <br />acre feet of water in Eagle Park Reservoir. <br /> <br />Over the past year, Cyprus Climax Metals Company, the new owner of the Climax <br />Mine, has made substantial progress in reclaiming Eagle Park Reservoir. Current <br />projections are for the reclamation to be completed in late fall of 1995 or early <br />spring of 1996. <br /> <br />In the vicinity of Eagle Park Reservoir is Robinson Lake (see Exhibit G). It is <br />another existing storage facility owned by Climax which currently contains <br />tailings. Robinson Lake has a capacity of approximately 3100 acre feet. Upon <br />completion of the reclamation of Eagle Park Reservoir, Robinson Lake may also <br />be reclaimed. Upon reclamation, the project could be expanded to include this <br />facility. However, none of the loan funds which are the subject of this application <br />pertain to Robinson Lake. <br /> <br />4 <br />