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will not be included as part of the Project budget. However, CROW will, <br />upon request, provide a copy of Its Project staffing budget to SPWRAP. <br />VII. OWNERSHIP OF WATER RIGHTS AND FACILITIES, ALLOCATION OF <br />RECHARGE CREDITS <br />A. The water rights for the Tamarack Managed Groundwater Recharge <br />Project facilities shall be decreed in the name of the State of Colorado, <br />Department of Natural Resource, Colorado Wildlife Commission, Colorado <br />Division of Wildlife. CDOW is obtaining these water rights for CDOW and <br />not as an agent of SPWRAP or any other party. CDOW will own all the <br />facilities constructed on the SWAs pursuant to this MOU, whether or not it <br />paid for initial construction, repair and maintenance of these facilities. <br />B. Any water from the Project that accretes to the South Platte River in <br />Colorado is, for purposes of this MOU, referred to as "Recharge Credits. <br />The Operating Committee may decide to recapture Project accretions <br />through pumping of Project wells ( "Recaptured Credits "). The Recharge <br />Credits allocated to CDOW are referred to as "CDOW Credits." The <br />Recharge Credits allocated to meeting PRRIP obligations are referred to <br />as "Program Credits." <br />C. The target pumping schedule will necessarily result in credits for <br />recharged water that do not, due to timing or flow considerations, directly <br />benefit the flow targets established by the PRRIP. The Recharge Credits <br />that are neither allocated to CDOW nor to meeting PRRIP obligations are <br />referred to as "Excess Credits ". <br />D. Twenty percent of the Recharge Credits that accrue to the river on an <br />annual basis as a result of the target pumping schedule will be allocated to <br />the CDOW for its use as CDOW Credits. At the annual meeting of the <br />Operating Committee, the CDOW shall indicate what portion of its <br />allocation will be used each year for their projects. Should CDOW not be <br />able to use any of these credits for their projects, the unused CDOW <br />credits will revert back to the control of SPWRAP. <br />E. Additional Recharge Credits may be generated by pumping Project wells <br />at times or in amounts in addition to those required by the target pumping <br />schedule. Allocation of credits generated by pumping outside of the target <br />pumping schedule by either party shall be discussed with and allocated by <br />the Operating Committee. <br />F. The Operating Committee will seek to enter into contracts to trade Excess <br />Credits generated by the Project for recharge credits generated by others <br />that would directly benefit the flow targets established by the PRRIP. <br />When such trades are not feasible, the Operating Committee will seek to <br />7 Tamarack MOU <br />