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Mr. Mike Gibson <br /> December 14, 2006 <br /> Page 5 <br /> 1,172 acre-feet by Leonard Rice Engineers, so the cost of this water was $490 per acre-foot of <br /> diversion. CDOW uses the water by exchange or trade for maintaining water levels in several <br /> reservoirs in the Rio Grande basin. This transaction will not be used as a comparable sale <br /> because the cost is far below any other transaction, even when adjusting the value by the <br /> Consumer Price Index to present dollars. (Contact: Grady McNeil) <br /> Comparable Sales-Water Division No.2 <br /> Since there are few,water rights transactions in the Rio Grande basin, we gathered <br /> information from several sales of water rights in the Arkansas River basin to see if the values for <br /> the above-described transactions in Water Division No 3 are comparable. Some of these sales <br /> involve the Upper Arkansas Water Conservancy District (UAWCD) which has developed and is <br /> now expanding an augmentation plan that covers depletions caused by municipal domestic, <br /> commercial, industrial, and other water uses causing out-of-priority depletions to the Arkansas <br /> River which is similar in function to SLVWCD's Augmentation Program. Descriptions of water right <br /> sales in the Arkansas River basin follow. <br /> Thompson Ditch. In 1995, UAWCD purchased 0.59 cfs of a water right associated with the <br /> Thompson Ditch which diverts from Cottonwood Creek, a tributary of the Arkansas.River, near <br /> Buena Vista. The water right has a priority date of December 19, 1864 and is relatively senior. <br /> The historical consumptive use averaged 25 acre-feet:annually. The purchase price was $3,000 <br /> per acre-foot of historical consumptive use (Contact Ken Baker) <br /> George, Howard, and Spring Ditches. In 1995, the City of Cripple Creek acquired the water <br /> rights for the George, Howard, and Spring Ditches that divert from west Fourmile Creek, a <br /> tributary of Fourmile Creek. The price was $2,500 per acre-foot of historical consumptive use <br /> (Contact: Jim Felt) <br /> Spurlin-Shaw;and Hayden Ranches. The City of Aurora purchased the land and water rights <br /> associated with the Spurlin-Shaw and Hayden Ranches in 1998. Both ranches are located along <br /> the Arkansas River near Leadville. The sources of water are tributaries and the main stem <br /> Arkansas River. Aurora sold the land with some water rights remaining to Lake County for open <br /> space use Aurora believes its net cost of the water rights worked out to about$2,500 per acre- <br /> foot of historical consumptive use The cost excludes those costs associated with adjudicating the <br /> change of water rights. Aurora will use the water by exchange to storage in Turquoise and Twin <br /> Lakes Reservoirs and by direct diversion from the Arkansas River through the Homestake <br /> Pipeline. (Contact: Doug Kemper) <br /> Rocky Ford Ditch. In 1999, the City of Aurora purchased additional stock in the Rocky Ford Ditch <br /> Company. The Rocky Ford Ditch diverts water from the Arkansas River near the city of Rocky <br /> Ford. The ditch has senior water rights and a very reliable water supply. Excluding the allowance <br /> for re-vegetating the formerly-irrigated fields, Aurora figures the cost for the water rights is about <br /> $3,000 per acre-foot of historical consumptive use This cost excludes the substantial costs of <br /> adjudicating the change of water rights and storage rental costs. (Contact: Doug Kemper) <br /> McPherson Ditch, In 2001, the City of Poncha Springs purchased water rights in the McPherson <br /> Ditch which diverts from the South Arkansas River. The cost was $3,570 per acre-foot of historical <br /> consumptive use. (Contact: Ivan Walter) <br /> Tenassee Ditch. In 2004, the City of Salida purchased water rights for and land under the <br /> Tenassee Ditch which diverts from the South Arkansas River. The expected yield is 300 acre-feet <br />