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<br />Aristocrat Ranchettes Water Project, Inc. - Purchase Water Shares <br /> <br />The Aristocrat Ranchettes Water Project, Inc., (A WRP) has requested a loan from CWCB to purchase <br />water shares as part of a larger project to improve their domestic water supply. The existing <br />water supply is from three wells in the Laramie/Fox Hills aquifer which is depleting rapidly, and <br />supplies only 1/3 acre-foot per year to its 306 households. The CWCB loan will be used to buy <br />206 shares of the Colorado Big Thompson (CBT) Project water and 1 share of Windy Gap <br />Project water for the 306 households. Each share of CBT provides approximately I acre-foot and <br />each share of Windy Gap provides approximately 100 acre-feet. The existing three wells will <br />serve as a backup supply when the project is completed. <br /> <br />A draft feasibility study has been completed by Aristocrat Ranchettes Water Project, Inc., with <br />assistance from Williams Technologies, Inc. <br /> <br />The CWCB has determined that: (1) a loan for the purchase of these water shares for municipal <br />purposes will resolve an existing water shortage, (2) the water shares are generally traded and <br />available for municipal use, and (3) the purchase price must be reasonable and supported by an <br />appraisal, <br /> <br />ARWP is a nonprofit corporation and receives revenues from its water customers, The Median <br />Household Income (MHI) in the subdivision is less that 80% of the Statewide MHI for 1990. <br />Residents currently pay about $32 per month, and a $28 increase will be required to complete the <br />project, so the expected water rate will be in the range of $60 per month. <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />