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Background <br />Purpose of Study <br />The Wadley Farms Filing No. 3 Homeowners' Association (Wadley Farms HOA) is <br />seeking to increase the water supply available to its community irrigation water system <br />and to increase the reliability of irrigation water supplies during drought periods. The <br />HOA is seeking CWCB funding in the amount of $720,000 to support the purchase of <br />two shares of the Farmers' High Line Canal and Reservoir Company (FHL) to add to the <br />three FHL shares currently owned by the HOA. This study reviews the limitations of the <br />HOA's current water supplies and the improvements to be gained for the Wadley Farms <br />No. 3 Subdivision from the purchase. It also demonstrates the feasibility and economic <br />capability of the HOA to repay the CWCB loan. <br />The Wadley Farms No. 3 Subdivision consists of 109 large -acre residential lots located at <br />Colorado Boulevard and 144th Avenue at the far north edge of the Denver Metropolitan <br />area. The HOA owns and operates a raw water supply system for the benefit of its <br />homeowners that provides water supplies for irrigation of the homeowners' lots and fire- <br />fighting protection through the system fire hydrants. The Wadley Farms No. 3 water <br />system consists of ditch company shares, three HOA -owned reservoirs, pumps, a network <br />of pipes running through the subdivision, fire hydrants and ancillary equipment. <br />Domestic water is provided by individual deep Denver aquifer wells owned by each <br />homeowner. <br />The HOA is currently the owner of three shares of the FHL Company, which are <br />delivered through the Signal Ditch to the HOA reservoirs. At times, the HOA has leased <br />the use of other FHL water. The HOA also owns storage water rights for the three <br />Wadley Reservoirs that allow for diversion and storage of water delivered through the <br />FHL and Signal Ditches. The dams and reservoirs were rehabilitated in the 1990s to <br />reduce seepage, improve dam stability and remove sediment accumulations that reduced <br />reservoir capacity. Water is delivered to each individual lot using pumps located at each <br />reservoir that deliver water into a pressurized pipe system. <br />Bylaws and covenants provide the HOA board with the authority to restrict or prohibit <br />irrigation use of the water supply by homeowners during drought or emergency <br />conditions. The board establishes a water supply allocation each year based on <br />hydrologic conditions. In the severe drought year of 2002, the HOA found it necessary to <br />prohibit almost all irrigation use due to the limited water supply and was barely able to <br />maintain a sufficient fire- fighting reserve in the Wadley Reservoirs. In order to better <br />manage available supplies, the HOA began installing and reading meters for each <br />individual lot in 2003. Water use reports based on meter readings are provided to each <br />resident monthly to assure that water use is not excessive. However, the HOA has still <br />needed to restrict water allocations in recent dry years, such as 2012 and 2013, due to the <br />insufficient water supplies yielded by the IIOA's current water rights. <br />Wadley Farms No. 3 Water Supply CWCB Loan Feasibility Study Page 1 <br />