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South Metro Water Supply Authority Agenda Item 14b March 10, 2009 (UPDATED March 18, 2009) Page 3 of 8 and industrial needs. The groundwater does not have sufficient natural recharge to match withdrawal rates, and is therefore considered to be nonrenewable. The groundwater does provide a cost effective means to meet current demands; however, continued use of groundwater may not meet anticipated future needs without additional renewable supply sources. The proposed Project will allow participating members in the Authority to acquire capacity in the ECCV Northern Supply Pipeline and thereby will aid these members in conveying renewable water supplies, recapturing consumable return flows, and will increase operational flexibility. Money from the CWCB loan will provide funding for four members: Arapahoe County Water and Wastewater Authority, Meridian Metropolitan District, Pinery Water and Wastewater District, and Stonegate Village Metropolitan District. The remaining members that are participating in the Project will purchase the capacity through their own independent financing. The ECCV Northern Supply Pipeline was constructed in 2006. It is a 48-inch steel pipe that runs from Barr Lake to ECCV's service area located east of the Cherry Creek Reservoir. The pipeline is approximately 31 miles long with a capacity of 47 million gallons/day (mgd). The pipeline is a regional transmission line that delivers water to a point near Cherry Creek Reservoir. The pipeline will ultimately be connected to additional infrastructure that will deliver water to both storage reservoirs and directly to Authority members who will then deliver water through their distribution systems. Potential surface water storage sites include: Centennial's South Platte Reservoir, Chatfield Reservoir, Cherry Creek Reservoir, and Rueter-Hess Reservoir. Loan Feasibility Study The Loan Feasibility Study titled "Loan Feasibility Study - Water Supply Pipeline Capacity Acquisition, " dated February 2009, was prepared by Camp Dresser & McKee Inc. The study includes information on the long term water demands for the members of the Authority (including the Authority's Regional Water Master Plan) and estimated cost of the Project. The study was prepared in accordance with the CWCB guidelines. South Metro Water Supply Authority The Authority was formed in August 2004 pursuant to the South Metro Water Supply Authority Intergovernmental Agreement under Title 29, Colorado Revised Statutes. It is governed by a five- member Board of Directors. The Board has the ability to contract to borrow money and set rates for its members. The Authority was formed from the Douglas County Water Resource Authority and the South Metro Water Supply Study Board after other larger water providers requested to work with one regional entity. By taking a unified approach to regional water rights and allocation, the Authority tries to best serve its members through its increased negotiating power and support on water projects.