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Total Requests <br />90% Reimbursement <br />$10,475,700.63 <br />$ 9,428,130.57 <br />Central is paying down the 2-year bond by approximately $1.8 million in June 2006, so <br />that our total debt (CWCB loan and the 2-year bond) will be at $16.6 million. <br />Chan�es to the Current Project <br />The most significant change that has occurred since the project proposal was submitted to <br />the CWCB in October, 2004, is the skyrocketing price of senior water rights. We had <br />anticipated acquisition of 4,066 acre-feet of senior water rights at a cost of approximately <br />$3,000 per acre-foot of consumptive use water. Since 2004, the price of senior water <br />:iRHts in tt�° GrPeley area :s in the �.eighb�rho�d of. ��,000 per a.cre-foot, and. around <br />o-.. <br />Brighton that cost is closer to $10,000 -$12,000 per acre-foot. This three-fold increase in <br />water values has severely diminished our purchasing power for senior water rights. <br />Due to the drastic increase in the cost of senior water rights, Central has already begun <br />pursuing an aggressive groundwater banking (recharge) program. To date, we constructed <br />approximately 15 facilities �o store water during excess river flows. These sites range in <br />cost of roughly $10,000 -$75,000, and we have already expended $500,000 on recharge <br />pro}ects this spring. In addition, we've developed a large-scale recharge project near <br />Orchard, Colorado, with a cost of approximately $1.9 million. These groundwater <br />projects are the most economical methods available to provide a fairly reliable source of <br />augmentation water for member's wells. <br />Formal Request <br />Central respectfully asks that we be able to submit receipts for groundwater recharge <br />projects that will be used to augment member's wells in the Well Augmentation <br />Subdistrict. This would include $500,000 for the various smaller recharge projects <br />completed this spring, as well as the Orchard Groundwater Banking (recharge) project <br />. L]ayP10r�� ;?.T;�•� ��i�:T1��:' ���✓. �'�'i°v � v jiE?rtiC)e? iii i?I^R; }ii"U�i:i;�''lS Bj��J!'v3:II;:Gif:=J <br />$900,000, as it is jointly owned with the Groundwater Management Subdistrict, and that <br />portion cannot be reimbursed by the CWCB. We anticipate the development of an <br />additional $2M-$4M of groundwater recharge projects in the next year. Some limited <br />senior water rights may also be purchased if prices can be held low (in the $5,000 per <br />acre-foot range. <br />We certainly appreciate your consideration of this request. <br />Sincerely, <br />� <br />Tom Cech <br />Executive Director <br />� I <br />� , <br />C � <br />