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Gypsum Loan Feasibility Outline <br />CWCB Water Project Loan Program <br />Page 5 of 33 <br />1.0. Introduction <br />The Town of Gypsum purchased the LEDE Ditch and LEDE Reservoir water rights in <br />2006. The original water rights are decreed for irrigation uses, and provide storage for up <br />to 947 acre-feet in an existing reservoir. Currently, the reservoir is limited to 431 acre- <br />feet of capacity. The Town has contractual obligations to provide LEDE water for <br />agricultural purposes in the Gypsum valley. In addition, the reservoir has aging <br />infrastructure which requires repairs to comply with state dam safety regulations. <br />Gypsum wishes to make maintenance, repairs and construction to bring the reservoir to <br />full capacity, and to protect valuable senior water rights in the reservoir. <br />2.0. Loan Feasibilitv Outline <br />2.1.1 Back~round/Purr~ose <br />The Town of Gypsum, located in Eagle County Colorado owns and operates the water <br />right for the LEDE Reservoir, originally decreed in Civil Action No. 963, Eagle County, <br />which provides for up to 947 acre-feet of storage. The reservoir was originally built to <br />supply the Gypsum Valley with irrigation water, and more recently, has been added to the <br />Town's municipal water supply portfolio. As stated above, LEDE Reservoir currently <br />holds approximately 431acre-feet. The reservoir is located on Forest Service lands in the <br />White River National Forest, pursuant to an approved special use permit, which is <br />attached as Appendix 1. The Town seeks to insure reservoir capacity and avoid reservoir <br />restrictions with repairs, firm up existing capacity, and increase capacity for LEDE <br />Reservoir to accomplish the following goals: <br />a. Reclaim existing storage for agricultural use by assessing silt removal and <br />lining. <br />b. Improve ability to release stored agricultural water by making repairs, <br />lining, other. <br />c. Increase storage capacity to shore up agricultural rights secured in <br />annexations. <br />d. Protect senior water rights in LEDE Ditch and Reservoir. <br />e. Meet state dam safety requirements for existing LEDE Reservoir. <br />f. Improve accessibility, potential recreation. <br />g. Improve Gypsum Creek flows and stream health. <br />h. Secure long term supplies available for agricultural use and/or lease. <br />i. Secure long-term municipal supply is adequate for anticipated growth. <br />j. Ensure contractual commitments for agricultural delivery are met. <br />