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necessary to prevent injury= to vested rater rights and decreed conditional ~~-ater <br />rights. V~'hen the Board cannot identify such do«°nstream beneficial use. rt v~-il1 <br />request the inclusion of a term and condition providing that the Board intends to <br />return to ~'~%ater Court to amend the subject change decree to add the beneficial use(s) <br />of the historical consumptive use do~~-nstream of the ISF reach at the time the Board <br />is able to brim about such use. "~~• °"~~ ~"'''°°°"°"* a""~~'=''"°"~"''°"°~"""' ""°'~"'°+ <br />case: and <br />4. Financial Polic~-19 -Expenditures of Funds for 'L'ater acquisitions for Instream <br />Flo«- Use Pursuant to Section 37-60-123.7, C.R.S. <br />At the July CWCB meeting. Board members expressed concern that the list of factors (on page 3 <br />of the policy) for calculating the compensation to paid for a lease does not indicate that the <br />amount of compensation maybe adjusted up or do~~~n based upon a given factor. Staff has added <br />phrase '`and may increase or decrease that amount-' to the introduction to the list of factors: <br />The Board shall calculate the amount of compensation to be paid for the lease. and mad <br />increase or decrease that amount. based upon: <br />Staff has not included an~rthing in the policy on the potential effect of each factor on the amount <br />of compensation in the interest of the Board having full discretion over its calculation of <br />compensation. Staff also revised factor (4) to address a concern raised in July about «-hether <br />public access to an ISF reach has a positive or negative effect. <br />(4) The positive or negative effects of public access. if any. to the ISF reach through «~hich the <br />Board «-i11 use the leased «-ater. <br />Staff Recommendation <br />Staff recommends that the Board: (1) provide input on the issues discussed in this memo and at <br />the Board meeting; and (2) approve a revised schedule for the rulemaking proceeding under <br />"-hick staff ~~.-i11 request authorization to initiate the formal rulemaking process in November, <br />«-ith the rulemaking hearing to be held at the January 2009 C~?L'CB meeting. <br />• <br />