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The Wadley Farms No. 3 Subdivision relies on having sufficient water supplies to <br />maintain landscaping for individual properties, to keep sufficient water levels in its three <br />reservoirs for sustaining fish and Fire-fighting reserves during dry periods, and to assure <br />the continued contribution by the lakes to the subdivision's attractive character. The <br />limited water supplies currently available to the HOA during extended dry periods <br />negatively affects all of these needs, despite the reasonable steps that have been taken to <br />use the existing Wadley Farms No. 3 water supplies wisely. <br />The HOA has explored options to increase its water supplies and concluded that <br />acquisition of additional FHL shares is the most practical option. The HOA currently has <br />the opportunity to acquire an additional two FHL shares. This study is in support of the <br />HOA's loan request to the CWCB for financing a 90% portion of the purchase of these <br />two FIIL shares. <br />Study Area <br />The Wadley Farms No. 3 Subdivision consists of 109 large -acre residential lots located <br />west of Colorado Boulevard between 144th and 152nd Avenues, just south of E -470 at <br />the far north edge of the Denver Metropolitan area. The subdivision is an unincorporated <br />area of Adams County the city limits of Thornton. Wadley Farms No. 3 encompasses the <br />land east of the railroad tracks in Section 13, Township 1 South, Range 68 West. The <br />subdivision ranges in elevation from 5260 feet MSL down to 5164 feet MSL. Signal <br />Ditch runs northeasterly at a location just to the south and west of the subdivision. Big <br />Dry Creek is located below the subdivision about one mile to the west. <br />Of the 109 lots in the subdivision, 104 lots are developed with a single - family house and, <br />often, associated outbuildings. Lots are zoned for agricultural use and the subdivision <br />has a rural character with pasture areas and livestock on most lots. Lots generally range in <br />size from about 2.5 acres to 4 acres. Each lot may irrigate no more than 8000 square feet <br />based on restrictions in the subdivision covenants. Most properties contain up to 8000 <br />square feet of irrigated grass areas consisting of bluegrass, ryegrass and other lawngrass <br />species combined with vegetable gardens, ornamental gardens, and trees. The remaining <br />vegetated portion of most properties consists of unirrigated pasture grasses. <br />Domestic water is provided for each home through individually -owned deep wells into <br />the Denver basin aquifers. About 90% of the homeowners' wells are in the Arapahoe <br />formation and 10% are in the Laramie -Fox Hills formation. The HOA Covenants prohibit <br />outdoor irrigation with the individual deep wells. Arapahoe wells are permitted for in- <br />house use only. The Laramie -Fox Hills wells often are permitted to allow for some <br />limited outdoor use and stock watering despite the Covenant restriction, but typically <br />have a limited flowrate that makes such use impractical. <br />Wadley Reservoirs Nos. 1, 2 and 3 are located within the boundaries of the subdivision <br />and are an integral part of the Wadley Farms No. 3 irrigation water system. but also <br />Wadley Farms No. 3 Water Supply CWCB Loan Feasibility Study Page 2 <br />