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b. The Parties continue to anticipate that use of water re- regulation facilities at the <br />Tamarack Ranch State Wildlife Area and the Pony Express State Wildlife Area <br />would be one component of the Water Projects Plan. DNR will contribute <br />$1,054,395 from the capital account of the Species Conservation Trust Fund and <br />$917,000 from the operations and maintenance account of the Species Conservation <br />Trust Fund to the development of the Tamarack State Wildlife Area, and towards the <br />employment of staff and O &M for operations at the SWA for the First Increment as <br />specified in Senate Bill 08 -168. The Parties believe that construction of all currently <br />anticipated infrastructure will be completed for this amount. Responsibility for the <br />costs associated with operating these facilities is the subject of a Memorandum Of <br />Understanding between SPWRAP and the Colorado Division of Wildlife executed <br />contemporaneously herewith. <br />DNR will contribute $250,000 towards water re- regulation projects that are beneficial <br />to PRRIP and that are being developed by Ducks Unlimited using matching -fund <br />grants obtained pursuant to the North American Wetlands Conservation Act <br />( "NAWCA ") and other sources, provided that suitable projects are identified. As part <br />of its obligation described below, SPWRAP will contribute $215,000 toward such <br />Ducks Unlimited projects, provided that suitable projects are identified. <br />d. The Parties anticipate that the amount of money necessary to implement the Water <br />Projects Plan for the First Increment, after the actions described above, will be <br />approximately $9,500,000 in combined capital/construction costs and O &M costs, <br />which amount includes an assumed 3% rate of inflation based on the anticipated <br />timing of the expenditures over the duration of the First Increment as described in <br />greater detail in Exhibit A to the MoA. SPWRAP will supply the funds to meet the <br />further costs of implementing the Water Projects Plan for the First Increment to the <br />extent provided in Paragraph 3 below. <br />2. With regard to Paragraph 2.c. of the MoA: <br />a. The PRRIP Agreement entails a financial obligation of $24 million in 2005 dollars, <br />paid directly to PRRIP, to be used for components of PRRIP other than the Colorado <br />Program. The Parties initially agreed that funding of this obligation would be sought <br />from the General Assembly, however, due to uncertainties related to the funding that <br />would be allocated over a period of several years, SPWRAP agreed to act as a <br />financial "backstop" or guarantor for this obligation. <br />b. At this time the General Assembly has dedicated approximately $16 million to <br />meeting this obligation, and the General Assembly anticipates dedicating the <br />additional funds necessary to meet Colorado's remaining obligations. Consequently, <br />it appears that the State of Colorado will meet this $24 million obligation in full. <br />3. Based on developments since the execution of the MoA, summarized above, the Parties <br />now amend the MoA to remove SPWRAP's obligation to act as a financial backstop for <br />2 <br />I' Amend DNR- SPWRAP MoA 1 -12 -09 <br />