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<br />. The public agencies which hold land and water rights along the river, including the Rio Grande <br />National Forest, the CDOW's four SWA's along the river, the Colorado State Land Board, the <br />USFWS's Alamosa National Wildlife Refuge and the BLM. <br />. The State of Colorado, through the CDWR's ability to better administer the waters of the Rio <br />Grande, while providing the longest possible irrigation season and maximum benefit to the <br />citizens of Colorado. <br />. In a larger picture, Colorado's position at the headwaters of the Rio Grande is also important. <br />Our care of the health of the river also benefits our downstream neighbors of New Mexico, Texas <br />and Mexico. <br /> <br />Facilitating Water Activitv Implementation <br />c. Funding from this Account will reduce the uncertainty that the water activity will be implemented. For <br />this criterion the applicant should discuss how receiving funding from the Account will make a significant <br />difference in the implementation of the water activity (i.e., how will receiving funding enable the water <br />activity to move forward). <br /> <br />Matching Funds: With the strength of our proposal, our broad-based community support, and the local, <br />regional and national importance of the Rio Grande, we were gratified to receive substantial and full <br />funding from GOCO. We are now working to leverage these funds to the maximum extent possible. Out <br />of Rio Grande Initiative's award of $7.385 million, nearly $3 million will be used towards projects in this <br />application. This portion will require an additional approximately $1.5 million in matching funds. <br />Therefore, if awarded, WSRA funds would allow us to move forward quickly on completing projects <br />funded by GOCO, including the two projects with CDOW /GOCO funds. Moving forward quickly is <br />critical for the momentum of the Rio Grande Initiative overall and encouraging other landowners to <br />consider protecting their properties with conservation easements. <br /> <br />Note that WSRA funds will also be matched with a generous contribution of a portion of the conservation <br />easement value from the landowners, totaling approximately $2.2 million. <br /> <br />d. There is an urgency of need for the water activity and/or any compelling "window of opportunity" that <br />may be missed without funding from the Account. <br /> <br />Urgency: <br />The window of opportunity for this ambitious project is immediate and urgent. One of the key parcels in <br />this project is on the market and depends upon conservation funding for purchase and protection by a <br />participating conservation buyer. With the GOCO Legacy Grant Award, we are ready to move forward <br />with transactions as quickly as matching funds are secured. As stated above, the WSRA is key in moving <br />forward quickly allowing us to close on several projects in 2008 and 2009 Without this funding, projects <br />would be pushed back two to three years while we secure other sources of funding, during which time the <br />price of land conservation will rise considerable and with stalled momentum, landowners might lose <br />interest. <br /> <br />Increasingly, large tracts of the river corridor's traditional agricultural lands are being sold and subdivided <br />into housing developments and "ranchettes" at an alarming rate. (See attached news article on large ranch <br />sales). This move from agriculture to development is driving land values out ofthe reach of most <br />agricultural producers. We are working hard to provide landowners an alternative to selling to <br />developers. <br /> <br />Demographically, many farmers and ranchers in this area are of retirement age and a major shift in land <br />ownership is already occurring. Again, the Rio Grande Initiative can provide them ways to keep the land <br /> <br />Page 16 of 32 <br /> <br />Rio Grande Initiative <br /> <br />Janual'Y 2008 <br />