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<br />. <br /> <br />Following the Board's lead, the legislative leadership and <br />the Governor conferred concerning the matter of front-end <br />cost-sharing for federal projects. When it was ultimately <br />decided to seek authorization for the Colorado Water Resources <br />and Power Development Authority, the Board held a special meeting <br />on January 5, 1982, to review the project documents for the <br />Narrows and Animas-La Plata projects pursuant to 37-95-107, CRS <br />1973. As you know, the Board subsequently forwarded these <br />documents to the General Assembly together with its recommen- <br />dation that the Development Authority be authorized to proceed <br />with the consideration of the two projects. S.J.R. 6 has, of <br />course, been the result of this process. <br /> <br />Given the passage of S.J.R. 6, five proposed projects, as <br />reflected in S.B. 87, remain for the General Assembly's <br />consideration at this time. A brief summary of each of these <br />projects is attached for your information. The project for the <br />City of Craig involves the construction of a new reservoir. The <br />remaining projects entail the repair and rehabilitation of <br />existing facilities. <br /> <br />With the exception of the Rio Grande Reservoir project, the <br />Board recommends that it be authorized to expend moneys from the <br />construction fund in an amount not to exceed 50 percent of the <br />total cost of constructing a project, exclusive of the Board's <br />costs for any feasibility studies completed prior to the authori- <br />zation of a project. To make this clear, I suggest that a new <br />sentence be added starting at line 24, page 2, to read as <br />follows: <br /> <br />"The board's cost toward any project <br />specified in paragraph (a) of this subsection <br />(1) except for the Rio Grande Reservoir <br />project, shall not exceed 50 percentum of the <br />total cost of constructing a project." <br /> <br />with respect to the proposed Rio Grande Reservoir project, <br />you will note that the Board recommends, contrary to past <br />practices, that 100 percent of the construction cost of this <br />project ($1,134,500) be financed with moneys from the construc- <br />tion fund and that $619,500 of this sum be non-reimbursable. <br /> <br />The project is a unique opportunity which the Board believes <br />justifies the investment. In addition to rehabilitation for the <br />benefit of the Rio Grande Reservoir Company users, the project <br />will make available to the State Engineer about 17,000 acre-feet <br />of water to be used to administer the Rio Grande Compact. The <br />departure from standard practice is warranted because the state <br />would be purchasing reservoir capacity to improve beneficial <br />consumptive use in the Rio Grande basin. <br /> <br />JWM/gl <br />. Attachments <br /> <br />-2- <br />