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Water Supply Reserve Account - Grant Application Form <br />Fonn Revised May 2007 <br />Finally, the retirement of two of the wells that TNC is targeting will provide yield water quality benefits. <br />One of the wells irrigates a field located less than 0.25 miles from the Arickaree. Another irrigates a field <br />located less than 1.0 miles from the Arickaree. Converting these fields to permanent cover will reduce erosion <br />and the loading of sediment and nzitrients into the Arickaree. The third well targeted by TNC is located,just over <br />4.0 miles,from the river and would only yield marginal water quality benefits. <br />Proiect Finance Summary <br />River. <br />TNC is seeking a total of 899,920 to aid in the protection and enhancement of flows in the Arickaree <br />TNC is seeking S94,920 to retire three wells near the Arickaree River by providing landowners with an <br />additional match to enroll in either the Republican River Conservation Reserve Enhancement Program (C'REP) <br />or the Republican River Environmental Quality Incentives Program (EQIP). The Republican River Water <br />Conservation District provides funding in support of both the C'REP and EQIP. <br />TNC is also seeking S.5,000 to test the two inactive wells in question for viability and then to appraise <br />the value of the valid permits that exist for these wells and that could be used to re-operate them at some point in <br />the future. If the wells prove to be viable, TNC will then seek to raise funds to pay for the retirement of the <br />permits for these wells based on their appraised value. <br />Please see the Financial Notes below for° more details on how these figzlres were developed. <br />?'nr?i?hi einr? <br />In szmz, this project will: <br />• help with Compact compliance while providing ecological benefits to key habitat for rare species; <br />• leverage significant public iznding from C'REP and EQIP in a specific area where the resources will <br />yield greater than average benefits -- the 819,98=1 requested in this application would be matched by <br />approximately S.564,191 in cash from other funding sources and hundreds of hours of investment by <br />TNC worth at least $8,335 in in-kind contributions to achieve the project benefits (see the Budget <br />section of this application for details); and <br />• receive support from landowners and the Repzblican River Water Conservation District while focusing <br />the resources applied to this issue by the Colorado Division of Wildlife and Division of Water <br />Resoim°ces. <br />Arickaree River Well Retirement Financial Notes <br />To accomplish the proposed well retirements, TNC has offered the well owners added incentives to <br />enroll in either the Republican River Conservation Reserve Enhancement Program ((-'REP) or in the Republican <br />River Environmental Quality Incentives Program (EQIP). <br />In the case of the CREP, TNC is working on two wells belonging to one landowner. TNC proposes to <br />pay the di Terence in the netpresent value of what the CREP would pay on the Arickaree vs. what it would pay <br />,for wells at a similar distance from the North or Smith Fork of the Republican, which both received higher <br />incentives from the Republican River Water Conservation District tinder the C'REP. <br />For EQIP, TNC is working on one well with one landowner and proposes to pay less than the full <br />difference between the netpresent vahle of what EQIP wouldpay in a priority area vs. what it wouldpay in the <br />area where the well is located. <br />11