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I. INTRODUCTION <br />A. Purposes <br />The purposes of this document are (1) to establish credits for certain cash, cash <br />equivalent, water, and land contributions made by or on behalf of the parties to the Platte River <br />Recovery Implementation Program Cooperative Agreement (the Program); (2) to provide <br />guidance for use in determining other credits earned by or on behalf of the parties during the <br />First Increment of the Program; (3) to establish principles for disposition, should the Program <br />terminate, of assets acquired or contributed to accomplish the objectives of the Program; (4) to <br />provide guidance on the ESA credits that might be available for use in consultation with the Fish <br />and Wildlife Service should the Program terminate; and (5) detail the Program budget and the <br />cash flow requirements for the First Increment of the Program. <br />B. Definitions of Terms <br />1. Cash Contributions - The respective amount of money that each signatory will <br />contribute to the Program Budget during the First Increment. The records of the <br />Financial Management Entity (FME) will be used to determine the amount and date of <br />each signatory's actual cash contributions. <br />2. In-kind Contributions - During the First Increment of the Program, signatories <br />may elect to be "Water Project Sponsors" or "Sponsors of Program Lands," as defined in <br />Sections VIII.C and VIII.D of Attachment 6, respectively, in lieu of making their <br />required Cash Contributions. In addition, a signatory may propose and the Governance <br />Committee may approve agreements whereby signatories elect to provide technical or <br />other services as in-kind contributions in lieu of making its Cash Contribution. The <br />agreements between the signatory and the Governance Committee documenting these <br />transactions will include the credit the signatory will receive toward its respective Cash <br />Contribution. In addition, the agreements will address the disposition of the Program <br />Assets provided by the in-kind contribution in the event of Program dissolution. (In-kind <br />contributions do not include the costs associated with providing representatives on the <br />Governance Committee, Oversight Committee or other committees established by the <br />Governance Committee.) <br />3. Cash Equivalents - The states of Colorado, Nebraska, and Wyoming (the states) <br />will be contributing water from the three initial Program water projects and the use of <br />lands for Program purposes, herein defined as Cash Equivalents, in order to match, in <br />part, the Cash Contributions of the Department of the Interior (DOI). During the <br />Program, additional Cash Equivalent Contributions to the Program may be proposed. <br />Such contributions will need to be approved by the Governance Committee before any <br />crediting is authorized. The review and ultimate approval will have two elements: <br />(1) whether the activity merits Cash Equivalent credit, and (2) if so, in what amount <br />(potentially measured by value to the Program in meeting its First Increment objectives <br />rather than by the level of expenditure).