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<br />Issues to work through with potential participant irrigators: variation in yield and <br />water value among ditches; delivery issues to irrigated land with less water in <br />ditch (laterals); what land will be fallowed and when (fallow some poor land... <br />must always be rotational fallowing); farmer concern about diminished <br />productivity after fallowing; actual organization and creation of Super Ditch Co. <br /> <br />Issues to work through with potential municipal lessees: lease terms and <br />conditions: municipality demands, reliability, price, payment terms, length of <br />leases; competition from non-participants i.e. other munis who want to buy and <br />dry; what happens when a irrigator wants to sell his shares <br /> <br />Summary: Advantages: irrigators realize value of water currently; munis get water <br />they need; supports long term irrigated ag <br />Challenges: cooperation among ditch companies; creation of Super Ditch Co.; <br />time to get in place before economic forces force further sales of ag water <br /> <br />Conclusion: Sense of urgency; looking out for small towns; where buy and dry- <br />tax pools change <br /> <br />Discussion: <br />--In basin or out of basin? Only in basin right now. <br />--Comment from Jay: CO Springs and Pueblo would not support this at level of <br />ARK Roundtable; <br />--Length of time for lease: Munis are talking perpetuity. <br />CA lease is 45 years with option to renew; <br />Because of bureau leases are 40 years with option to renew. <br />-- What kind of price escalator would be comfortable for that period of time? In <br />Palo Verde lease: fixed price escalator in first 10 years; then switches: negotiated <br />amount because of larger up-front amount balanced against municipalities' desire <br />for slower; <br />--best example in CO is Xcel in Ft Morgan area; matter for negotiation. <br />--how are you going through this process? Time line? Working with farmers? <br />--Farmers receptive to this; 65% participation level seems reasonable; ditch cos <br />receptive; farmers and ranchers looking at this as another crop; <br /> <br />IV. Water Supply Reserve Account <br />Ovid Reservoir Feasibility Study: Joe Frank: Lower South Platte Water <br />Conservancy District and Manager of District 64 Reservoir Company <br />--District 64 incorporate in Nov 2006 for the purpose of purchasing the water <br />rights, land ,legal and engineering from GASP of old reservoir site in Logan <br />and Sedgwick Counties; <br />--Please see emails with application and proposal that was sent earlier by IBC; <br />--179 study looks at design, operational issues, and finalizing the project to get <br />it to construction and for project <br />--Grant request is for $2.5 million from state wide account <br />--Ovid Reservoir west of town of Ovid, 10 miles from COINE state line; <br /> <br />11 <br />