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623 Fourth Street <br /> Alamosa,CO 81101 <br /> (719)589-2230 San Luis Valley ►� <br /> Heather@slvwcd.org Water Conservancy District <br /> December 12,2016 <br /> Heather Dutton-Manager <br /> Anna Mauss,P.E. <br /> Water Project Loan Program <br /> Finance Section <br /> Colorado Water Conservation Board <br /> 1313 Sherman Street,Room 718 <br /> Denver,CO 80203 <br /> Dear Ms.Mauss: <br /> The San Luis Valley Water Conservancy District(District)formally requests an increase in the loan obtained <br /> for the Anaconda Ditch Water Right Acquisition Project,Contract Number 0150348("Project").The water <br /> rights are being purchased by the District for use in our augmentation program,which offsets depletions to <br /> the Rio Grande caused by pumping of domestic,municipal,and commercial wells. <br /> The Project has been in process for over a decade and will add 304.8 AF of consumptive use water to the <br /> District's inventory.The decreed use of the water right was changed from irrigation to augmentation <br /> through Case No 09CW34.The District reached a settlement with all opposing parties and the decree was <br /> finalized in April 2016.The purchase of the water right was delayed when the water and associated lands <br /> were involved in a foreclosure action that has taken several years to resolve.The case was settled in <br /> November 2016 and the District anticipates the purchase of the water will be finalized in the first quarter of <br /> 2017. <br /> In accordance with the District's contract,the purchase price for the water increased by 5%each year until <br /> all the water was purchased. Because the purchase was delayed due to the foreclosure action,the cost of <br /> the water has increased from$915,216 to$1,112,450,from 2012 to 2017.While the cost of the water has <br /> increased,so has its value.A letter from Thomas Williamson details his appraisal of the value of the water, <br /> which is now$4,430 per acre-foot or$1,142,408 for the entire amount of water being purchased. <br /> The District is requesting an increase in the loan to$1,112,450.This will allow the District to complete the <br /> Project,while maintaining cash reserves to complete another water rights acquisition which is currently <br /> under consideration. Enclosed are the 2015 Audit of the District's financial documents and the letter from <br /> Thomas Williamson,which updates his 2006 appraisal of the Anaconda Ditch water rights. <br /> Thank you for your assistance and consideration of this matter. <br /> Sincerely, <br /> Heather R. Dutton <br /> Enclosures(2) <br /> President: M.Dee Greeman,Alamosa,CO <br /> Vice-President:Darius Allen,Alemosa,CO;Secretaryrrreasurer Marcie Schulz,Alamosa,CO: <br /> Directors:Richard Davie,Del Norte,CO;Charles Griego,Alamosa,CO;Steve Keller,Monte Vista,CO; <br /> Tyler Neely,Del Norte,CO:Randall Palmgren,Center,CO;Karla Shriver,Monte Vista,CO;Tuck Slane,Hooper,CO. <br />