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<br />Town of Georgetown - Purchase Water Rights <br /> <br />The Town of Georgetown, located in Clear Creek County, has requested a loan to purchase water <br />rights or shares and to develop an augmentation plan approved by the court which will bring the <br />town into compliance with water right administrative procedures. <br /> <br />During the period 1950 to 1985, there were only three years (1965, 1983, and 1984) when the <br />Town's 1866 water right was in priority for the entire year. During the driest year, 1954, the <br />Town's water right was out of priority for 193 days. <br /> <br />In their draft feasibility study, McLaughlin Water Engineers calculated the town needed 8.63 acre- <br />feet per year in augmentation water for the existing population of approximately 1,000 people, <br />based on the driest year (1954). 1.5 shares of Farmer's High Line would provide about 10.5 <br />acre-foot per year. <br /> <br />The CWCB has determined that: (1) the purchase of these water rights or shares for municipal <br />purposes will resolve an existing water shortage, (2) these water shares or rights are generally <br />traded and available for municipal use, and (3) the purchase price must be reasonable and <br />supported by an appraisal. <br /> <br />The financial impact of the loan to acquire the water is that water rates would increase about <br />$3.00 per month for the existing customer base of 388 taps. Water rates are currently very low <br />($14.20 per month, unmetered) compared to the statewide average of $33.15 per month. <br />Repayment of the CWCB loan can easily be accommodated by a small rate increase, if necessary . <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 />