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Gypsum Loan Feasibility Outline <br />CWCB Water Project Loan Program <br />Page 6 of 33 <br />k. Improve stream flow and enhance habitat in Gypsum Creek. <br />1. Explore hydropower potential with a renewable resource. <br />m. Pursue conservation goals with storage. <br />2.1.2 Studv Area Description <br />a. Narrative Descri tU ion. Gypsum is a small town located in Eagle County, <br />Colorado. There are approximately 5,900 to 6,600 residents in this historic ranching <br />town. More recently, Gypsum has experienced rapid growth as a bedroom community <br />for neighboring ski areas. The Town boundaries encompass both the Eagle River and <br />Gypsum Creek, with the confluence just north of Gypsum's center. A study area map is <br />attached in Appendix 2 that outlines the Town's service boundaries, historic irrigation in <br />the valley, major diversions in Gypsum, and the LEDE Reservoir location. <br />b. Socio-economic characteristics. Over the last ten years Gypsum has almost <br />doubled in population within an estimated 7.5 square miles. Additionally, projected <br />growth expected from already approved development projects either underway or <br />expected to start soon will add another 6,000 people ta Gypsum's population over the <br />next 10 to 15 years. Recent community survey results indicated that approximately 92% <br />of these residents own their own home and are mainly over the age of 40 with almost half <br />of the respondents holding a Bachelor's degree or higher with household incomes <br />between $75,000 and $150,000. <br />As a result of this growth, Gypsum has experienced a sizeable increase in the number of <br />light industrial type businesses locating here which support the growing residential and <br />commercial construction industry within Eagle County which is largely fueled by tourism <br />and recreation of the area ski resorts. These resorts also employ a large number of service <br />oriented employees and numerous real estate agents for these properties. As the <br />population numbers increase, the town has become more attractive to commercial <br />businesses, including Costco which opened up two years ago. The Eagle County Airport, <br />Colorado's third busiest airport, brings in a large number of visitors, and is also located <br />within the town employing a large amount of area residents. In addition to the growing <br />resort economy, Gypsum continues to have significant ranch lands within the town <br />boundaries, with irrigated agriculture. <br />c. Irri agLtion. Based on water usage, it is estimated that in 2008, approximately 130 <br />acres were irrigated by water rights owned by the Town which were diverted through its <br />municipal water treatment plants. The bulk of this irrigation water service was provided <br />to the Town's residents for use on lawns and gardens and to the various entities <br />responsible for keeping parks, playgrounds and other common areas green. About 1.4 cfs <br />was used for these purposes. <br />Based on water leases and other agreements and information, it is estimated that in 2008 <br />approximately 120 additional acres were irrigated or planned for irrigation by water <br />rights owned by the Town. Some of this irrigation was used for landscaping, <br />