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SECWAE <br />October 20, 2005 <br />4 <br />RECORD OF PROCEEDING <br />ARKANSAS VALLEY CONDUIT REPORT: <br />Chairman of the Arkansas Valley Conduit (AVC) Committee Bill Long reported the Request for Proposals <br />(RFP) for the preliminary design are due October 21 and the Committee will begin reviewing them <br />November 1. <br />LAKE COUNTY RECREATION STUDY REPORT: <br />Mr. Reynolds reported the Lake County Land Use and Recreation Study Alternatives Report prepared by <br />ERO Resources Corporation have been distributed to all the participants in the study and they have met and <br />discussed the report. The Board was provided a copy of the report. Mr. Reynolds said now the focus will be <br />on the suggested areas for the economic impacts and the final draft of the study. <br />RESTORATION OF YIELD: <br />Mr. Hamilton reported on August 1, 2005, the Board of Water Works of Pueblo (BWWP) entered into a <br />purchase agreement with C.R. (Dick) Evans for the Stonewall Springs Ranch for seven and one quarter <br />million dollars ($7,250,000) as a site for the future development of a reservoir which would be used for the <br />Restoration of Yield. The week of September 26, 2005, BWWP received a "Draft" appraisal of the Evans' <br />property. The property was appraised at $3,000,000.00, an amount significantly less than the amount in the <br />purchase agreement. The BWWP, City of Aurora, and Colorado Springs Utilities have opted not to <br />participate in the purchase of the property, because of the apparent low appraisal. On Friday September 30, <br />2005, the BWWP issued a letter to Mr. Evans canceling the purchase agreement. <br />President Stealey asked if there were any other matters to come before the meeting, and hearing none, <br />adjourned the Enterprise meeting at 10:10 a.m. <br />Toni Gonzales <br />Administrative Manager <br />Secretary <br />\1 <br />