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Gypsum Loan Feasibility Outline <br />CWCB Water Project Loan Program <br />Page 7 of 33 <br />streetscaping, and parks, while some was also used for agriculture consisting primarily of <br />hay production. <br />In addition to irrigation under water rights owned by the Town, the Town is contractually <br />obligated to make water available from storage in LEDE Reservoir for agricultural <br />irrigation of lands served by water rights not owned by the Town (i.e. the H.O.R. ditch). <br />This reservoir water serves as a supplement to the direct flow rights which serve the <br />subject area consisting of approximately 200 acres not already accounted for. <br />The primary agricultural crop irrigated as described above is hay consisting mostly of <br />meadow grasses and some alfalfa. Due to annual climatic and operational changes, <br />harvesting and yield vary. Generally, 2 cuttings are put up for a total annual yield from 2 <br />to 4 tons per acre depending on fertilization and other factors. <br />2.1.3 Previous Studies <br />The water rights for the LEDE Ditch and LEDE Reservoir were purchased by Gypsum in <br />August 2, 2006. Prior to that purchase, an appraisal for the water rights was provided to <br />the previous owner, dated May 4, 2005. Please see Appendix 3. <br />