Arkansas - LAVWCD - Super Ditc_Application_July2008

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Alternative Agricultural Water Trauslfer Methods -Grant Application Farm aa~u$ry zoos b. Preliminary water engineering for water leasing program. HDR Engineering, Inc., "Rotational Land Fallowing-Water Leasing Program Engineering and Economic Feasibility Analysis, Final Report," Nov. 2007. This engineering study refined yield estimates of potential water available for lease and also analyzed exchange, storage and water quality issues. In addition, the study included amacro-economic analysis of water leasing, including water pricing, lease payments, and third party impacts. c. Economic analyses of regional water markets, alternative leasing structures, ditch company and shareholder revenues, and regional economic impacts. George Oamek, Honey Creek Resources, Jan. 2008. This study built upon the programmatic economic analyses in the Feasibility Analysis, developing specific scenarios far leases by ditch, compared to selling nut and continuing farming. The Steering Committee used this information to reach decisions on operational and organizational aspects of the Super Ditch Company. d. Legal analysis of alternative forms of Super Ditch Company (Anthony van Westrum, LLC, Jan. 2007). This report reviewed all of the potential legal structures available for the Super Ditch Company with regard to essential operational and organizational issues. Mast options were eliminated because they could not meet one or more critical objectives of the irrigators, leaving afor-profit Colorado corporation as the leading candidate. e. Draft articles of incorporation and bylaws for Lower Arkansas Valley Super Ditch Company (van Westrum; July 2007 -March 2008, on-going}. Following review of initial drafts of articles of incorporation and bylaws, several subsequent drafts have been developed to respond to concerns and to refine organizational and operational objectives of the Steering Committee. Legal analysis of the ditch companies' articles of incorporation and bylaws with regard to water leasing. Trout, Raley, Montano, Witwer & Freeman, PC, Oct. 2006. This was a review of the existing restrictions in the articles of incorporatoin and bylaws of the ditch companies whose shareholders are interested in water leasing. Two ditch companies clearly would allow water leasing under their current organizational documents, a third has historically allowed the use of water outside the company's service area although the organizational documents are not entirely clear concering a shareholder's right to do so, while the shareholders of four other ditch companies would need to amend their organizational documents to permit water leasing. Trout, Raley, Montano, Witwer & Freeman subsequently developed mode[ language to permit water leasing, and identified the procedures for shareholders to make such changes. g. Legal analysis of 1041 land use permitting requirementts. Trout, Raley, Montano, Witwer & Freeman, P.C., Aug. 2006. Water leasing would trigger so-called 1041 permitting requirements in up to four counties where irrigators may wish to participate in water leasing, including Bent, Otero, Prowers and Pueblo. h. Legal investigation of municipal authority to work with the Super Ditch Company. Kelly McMullin, Esq. and Mark Shea, Esq., Colorado Springs Utilities, Moey Hammond, Esq.,