Centennial Approval Letter - Laserfiche WebLink

Home Browse Search

Centennial Water and Sanitation District Agenda Item 29a May 9,2014(Updated May 23,2014) Page 5 of 7 FEDERAL AND STATE REQUIRED MITIGATION.THESE COST TOTAL $145.5 MILLION($7,063/ACRE- FOOT).THE REALLOCATION PARTICIPANTS ARE RESPONSIBLE FOR A PRO-RATA SHARE BASED ON THEIR STORAGE ALLOTMENT. SEE TABLE 2 FOR A SUMMARY OF THE REALLOCATION COST. TABLE 2: REALLOCATION COST SUMMARY Task Cost Cost of Storage $16,300,000 Federal Required Mitigation $107,100,000 State Required Mitigation $8,900,000 Subtotal $132,000,000 Contingency (10%) $13,200,000 Total $145,500,000 Borrower's Participation: The District is participating in the Reallocation with a goal of increasing the permanence and reliability of its water supply. On average, about 85% of the District's water supply comes from surface water and non-guaranteed short term leases. The successful completion of the Project will decrease the District's dependence upon non-tributary groundwater and surface water leases. Additionally,the new storage space in Chatfield will increase the District's storage space from 55%to 90% of its projected maximum demand.No additional water right acquisitions or infrastructure improvements will be needed for the District to utilize storage in Chatfield. Of the 20,600 acre-feet of storage to be reallocated,the District will directly receive 6,434.9 acre- feet and, through the South Metro Water Supply Authority, indirectly receive 487.2 acre-feet, for a total storage space of 6,922.1 acre-feet. This represents 33.60%of the total reallocation. Therefore, the District's Project cost is approximately $48,888,000 ($145,500,000 x 33.60%). The Project is expected to develop an average yield of 2,800 acre-feet per year for the District from junior water rights. Successful completion of the Project would result in the District securing renewable water rights that on average would supply 16% of its average annual water demand and 14% of its projected maximum annual water demand. SCHEDULE:THE CORPS' RECORD OF DECISION(ROD) IS EXPECTED IN 2014.UPON THE SIGNED ROD, THE CORPS WILL COMPLETE NEGOTIATIONS WITH DNR AND ENTER INTO A WATER STORAGE AGREEMENT.DNR WILL ENTER INTO THIRD PARTY SUB-AGREEMENTS WITH THE REALLOCATION PARTICIPANTS.PROJECT ACTIVITIES WILL BEGIN WHEN ALL NECESSARY AGREEMENTS HAVE BEEN EXECUTED(ESTIMATED FALL 2014). REALLOCATION PARTICIPANTS EXPECT TO PAY IN FULL THE COST OF STORAGE AS WELL AS BEGIN FINAL ENGINEERING UPON PROJECT START. THE RECREATIONAL FACILITY MODIFICATIONS AND ON-SITE MITIGATIONS ARE EXPECTED TO TAKE 5 YEARS. OFF-SITE MITIGATIONS AND MITIGATION MONITORING ARE EXPECTED TO LAST 13 YEARS OR MORE.