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( III ) The District shall, prior to <br /> commencing construction of the project, <br /> obtain such public access to the reservoir as <br /> the Board deems appropriate; and <br /> ( IV) Prior to commencing construction <br /> on the project, the Board shall provide a <br /> site development plan for the lands <br /> surrounding the reservoir to the General <br /> Assembly for its approval, and the site <br /> development plan shall address the <br /> appreciation and the values of lands in the <br /> vicinity of the project. <br /> Section 1 of the act also specifies, with respect to all <br /> authorized projects, that: <br /> (e) The sponsor of a project. . .may not <br /> give notice of an award of a contract nor <br /> notice to proceed with the construction of a <br /> project, nor in any manner incur costs for or <br /> initiate final designs and specifications <br /> for, or the construction of, a project, until <br /> such sponsor has entered into a contract with <br /> the Colorado Water Conservation Board for the <br /> construction of the project and has otherwise <br /> complied with all procedures and conditions <br /> required by the Board. If a sponsor fails to <br /> comply with this paragraph (e) , the Colorado <br /> Water Conservation Board may, at its <br /> discretion, terminate all or a portion of the <br /> Board' s financial contribution to a <br /> project . . .or the Board may require such <br /> assurances from the project sponsor as the <br /> Board deems necessary in order to adequately <br /> protect the Board ' s investment in a project. <br /> In light of the above statutory conditions, the current <br /> shortage of money available to the construction fund, and <br /> significant changes in the purposes of the project from what was <br /> orginally proposed (which changes are described below) , I believe <br /> that there are a number of items which require the Board 's review <br /> at this time. These include: <br /> ( 1) Review of changes in the purpose and scope of the <br /> project from what was originally recommended to the <br /> General Assembly by the Board, <br /> ( 2) Review and approval of a site development plan for <br /> recommendation to the General Assembly, <br /> ( 3) Review of the proposed construction schedule for the <br /> project in light of the lack of monies available to the <br /> construction fund, and • <br /> MEMORANDUM -2- March 9, 1984 <br />