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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />MEMORANDUM <br />(Updated March 20, 2007) <br /> <br />Bill Ritter, Jr. <br />Governor <br /> <br />FROM: <br /> <br />Colorado Water Conservation Board Members <br /> <br />~' ? <br />Bruce Johnson, P.E. ", '~' , <br />Mike Serlet, P.E., Chief' -~ <br />Water Supply Planning an Finance Section <br /> <br />Harris D, Sherman <br />Executive Director <br /> <br />TO: <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />DATE: March 2, 2007 <br /> <br />SUBJECT: Agenda Item 16a, March 12-13,2007 Board Meeting <br />Water Supply Planning and Finance Section - New Project Loans <br />Lower Poudre Augmentation Company - Reservoir and Water Rights <br />Purchase <br /> <br />Introduction <br /> <br />The Lower Poudre Augmentation Company (LPAC) is applying for a $3,073,320 loan to acquire <br />the Timnath Flatiron Reservoir and to acquire 4.5 shares in the Boxelder Ditch Company for the <br />purpose of providing augmentation water for existing wells. The estimated total cost of the project <br />is $3,414,800. Please see the attached Project Data Sheet. <br /> <br />Backaround <br /> <br />The LPAC is a non-profit well augmentation company that was incorporated in 2004, by the <br />New Cache La Poudre Irrigating Company (Irrigating Company) and the Cache La Poudre <br />Reservoir Company (Reservoir Company), in order to separate the costs and the benefits <br />accrued for well augmentation projects. LPAC supplies well augmentation coverage for well <br />owners throughout the Irrigating Company service area in Larimer and Weld Counties, in order <br />to replace out-of-priority depletions caused by well pumping and usage. The well augmentation <br />was formerly covered by GASP (Groundwater Appropriators of the South Platte.) Well owners <br />are not LPAC members but "contract" for coverage through augmentation agreements with <br />LPAC. There are 88 wells owned by 35 individuals/entities and the augmentation demands are <br />approximately 3,200 AF. <br /> <br />Substitute Water Supplv Plan (SWSP) - LPAC has provided well augmentation coverage <br />through a SWSP for 3-4 years, and in December 2006 filed a renewal request for its 2007 <br />SWSP. The plan includes 88 wells (85 irrigation wells and 3 stock wells), and provides for <br />replacement of out-of-priority stream depletions from well pumping totaling 3,217 AF, from April <br />2007 through March 2008. The LPAC currently meets its augmentation demands through rental <br />water from the Water Supply and Storage Company; reservoir water from various sources <br />recharged through the Greeley NO.2 canal system and recharge ponds; water available from <br /> <br />Flood Protection · Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />