Rio Grande - Rio Grande Initiative_Application_2008

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r. The water activity provides a high level of benefit to Colorado in relationship to the amount of funds requested. Given the high ratio of matching funds that will leverage funds awarded through this process, and the generous donation of conservation easement value by the landowners, there is exceptional value and multiple benefits to Colorado through the Rio Grande Initiative. The Rio Grande corridor has an additional unique component of still being reasonably valued in comparison to other major mountain river corridors in Colorado. Investing funds in the Rio Grande Basin now will prove a proactive use of monies and efforts before values increase exponentially. WSRA funds will be used to match and leverage additional state, federal and private funding for this project. s. The water activity is complimentary to or assists in the implementation of other CWCB programs. This activity is highly complementary to the CWCB's flood mitigation programs. As noted above, sustaining the functioning flood plain and riparian wetlands significantly helps to absorb the impacts of very high flows. By preventing residential development along the river through voluntary means, conservation easements keep the critical areas open and available to function as a flood plain. Likewise, the return flows provided by these riparian wetlands sustain the in stream flows for the river and extend the overall irrigation season. t. The water activity helps support the State's economic vitality and competitiveness in national and international markets. The Rio Grande Initiative will help support the sustainability of the SL V's agricultural industry and its recreational and tourism economy, including the unique cultural heritage tourism that our community provides (as evidenced by the development of a National Heritage Area being considered by Congress). These are key components of the Valley's contribution to Colorado's economic vitality and competitiveness. 4. Please provide an overview of the water project or activity to be funded including - type of activity, statement of what the activity is intended to accomplish, the need for the activity, the problems and opportunities to be addressed, expectations of the participants, why the activity is important, the service area or geographic location, and any relevant issues etc. Please include any relevant TABOR issues that may affect the Contracting Entity. Please refer to Part 2 of Criteria and Guidance document for additional detail on information to include. The Rio Grande Initiative is a project to protect key parcels ofland and associated water rights on the Rio Grande river through the use of permanent conservation easements, which are a voluntary, incentive-based means for achieving this objective. Please see the attached map of the overall project area, which depicts private lands in the Rio Grande flood plain, protected private lands, and public lands. At the time of this proposal, six parcels will be protected in this phase of the project and negotiations with willing sellers/willing- buyers are in progress with the landowners. WSRA funds are expected to provide matchingfunds for four of the six parcels funded by the GOCO Legacy Grant. Conserving river corridor land and associated senior water rights will contribute to the objectives discussed in the above sections as follows: 1. sustaining agriculture as the basis of both the culture and the economy of the SLV; 2. protecting important wildife habitat and contributing to the success of the HCP for the endangered Southwestern Willow Flycatcher and other species; 3. maintaining a functioning flood plain and its public safety contribution along the Rio Grande Page 21 of 32 Rio Grande Initiative Janual'Y 2008