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August 26, 2007 <br />Page 2 <br />Program is currently available, but see cap and financial issues below. <br />Current dry land rental pr ices are approximately $28-40/acre (with $50,000 CRP <br />annual “ceiling”). <br />At these rates, CRP is not an economically feasible or attractive remedy for many <br />vegetable growers in the South Platte River basin. <br />With current rise in corn pr ices, not particularly attractive for corn growers, either. <br />Morgan and Weld counties are currently CRP capped; Logan <br />CRP “Cap”: <br />County is near limit. <br />Cap may be waived by FSA under certain circumstances. <br />II. Conservation Resource Enhancement Program (CREP) <br /> A. CREP Facts : <br />State/federal partners hip; offshoot of CRP. <br />Flexible, within legal constraints, and can be adapted to meet local conditions. <br />Originates with a proposal from a state agency to address specific conservation <br />objectives in a defined geographic area. <br />Requires 20% matching non-federal funds (state , water conservancy district, in-kind). <br />Land must be taken out of agricultur e completely (no dry land farming). <br />Rental payments may be paid at high er, “irrigated land” rental prices. <br />Other types of financial incentives in addi tion to rental payments may be provided <br />Typically aimed at wildlife a nd water quality objectives, but in recent years used to <br />water quantity <br />address objectives (i.e., Nebraska’s drought-motivated CREP <br />program on Platte River; Republi can River CREP – see below). <br />B. CREP Eligibility Requirements Include : <br />Generally same as for CRP. <br />CRP acreage “cap” applies. <br />To qualify for “irrigated land” rental pri ces, land must typically be physically and <br />legally capable of being irrigated. <br />C. Republican River CREP : <br />Funding: 80% Federal/20% State. State match is primarily from Republican River <br />Water Conservancy District ($11 million total) and in-kind services. District assesses <br />$5.50 per irrigated acre and $4.40 per acre f oot for municipal, commercial and <br />industrial diversions. <br />Division of Water Resources added a full- time water commissioner to assist with <br />CREP contract enforcement. <br />