C150340 Feasibility - Laserfiche WebLink

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Collateral The Town will pledge the project itself and water fund revenues. Economic. Analysis In renovating the municipal reservoir, the Town will be able to efficiently store and utilitize the store water, which is currently not the case. In conjunction with the restoration, expanding the storage capacity of the reservoir will regain at least 360 acre feet of functional storage of pre - 1922 water rights, which is desperately needed as the Town's most senior in- stream water rights were out of priority in 2002 and may likely be called again in 2012 due to the existing drought. The cost per acre foot of stored water is less than $6000. The storage of pre -1922 water will not only assist the Town today but will augment supply for absorbing growth in the future and will also assist the State of Colorado if there is a Colorado River Compact call. The Town is in great need of a secure and reliable municipal water source for current and future growth, which will benefit the Town and Ouray County. Social and Physical Impacts The project will have no significant social or physical negative impacts. It will however have a postive social impact by greatly improving the reliability of the Town's water supply. Conclusions The Town is a municipal corporation incorporated in the State of Colorado with the ability to enter into a contract with the CWCB for the purpose of obtaining a Construction Fund Loan. The Town has the resources to manage all aspects of the Project. The project will provide much needed storage of water for the beneficial use of the Town's current and future residents and businesses. Expanding the Lake will not only assist the Town when the Town's water rights are out of priority but will also assist the State by storage of water with a pre -1922 decree. The Town is working to secure all the reasonable financial assistance needed to construct the project. The project is technically and financially feasible.