Southwest - Summit Irr Co MVIC Feasibility Study_Application

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Water Supply Reserve Account -Grant Application Form Form Revised May 2007 2. The water activity is consistent with Section 37-75-102 Colorado Revised Statutes. The requirements/language from the statute is provided in Part 3 of the Criteria and Guidelines. The pNOposed water activity is completely consistent with the CRS statute mentioned. All water rights in the area will be respected. Any acquisitions of or subsequent use thereafter of water Nights associated with this project shall be done in accordance with Colorado Water Law. Of particular interest is to determine if the proposed merger is beneficial to the shareholders of both companies and define the benefits and liabilities associated with the pNOposed merger. 3. The water activity underwent an evaluation and approval process and was approved by the Basin Roundtable (BRT) and the application includes a description of the results of the BRTs evaluation and approval of the activity. At a minimum, the description must include the level of agreement reached by the roundtable, including any minority opinion(s) if there was not general agreement for the activity. The description must also include reasons why general agreement was not reached (if it was not), including who opposed the activity and why they opposed it. Note- If this information is included in the letter from the roundtable chair simply reference that letter. The activity is has been approved unanimously by consensus of the Southwest Basin Roundtable at their monthly meeting held July 9, 2008. The discussion approved basin funding of ,$39,300 for Task 1 with the understanding that the results of Task 1 would be presented to the Southwest Basin Roundtable foN review and acceptance. If the Roundtable review is favorable towards the results and it is determined to continue the pNOject, they will need to provide anotheN approval letter to CWCB requesting funding from the Statewide Account for Tasks 2 and 3. This may come in the form of separate approvals for each Task or one recommendation for both tasks. All three tasks are necessary for the tneNgeN to be completed. A letteN of approval from the Southwest Basin Roundtable is attached. The water activity meets the provisions of Section 37-75-104(2), Colorado Revised Statutes. The requirements/language from the statute is provided in Part 3 of the Criteria and Guidelines. The activity is consistent with the cited provisions of the Statute. 3. For Applications that include a request for funds from the Statewide Account, describe how the water activity meets the Evaluation Criteria. See Part 3 of Criteria and Guidelines. The activity will study the potential benefrts and liabilities that could be realized by the acquisrtron of the Summit Irrigation Company as a part of the Montezuma Valley Irrigation Company (MVIC). This organization owns and operates a reservoir and canal system in the Cortez area. The Summit Irrigation Company is smaller and has financial and water supply problems. But it also has a significant storage reservoir that can route water to three separate drainage basins. The danz and foundation of the reservoir is in poor condition and Nequires Nehabilitation. The canal system tnay also have some opportunities foN rehabilitation and improvements that would enhance delivery and conserve water. The study will evaluate the multiple needs of the water users in the area and determine what is required for a successful acquisition in terms of capital and commitments. It is designed to seek involvement of the stakeholder parties in the basin. It will consider both structural and non-structural alternatives. This 4