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<br />t <br /> <br />e <br /> <br />e <br /> <br />- <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />1 313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (3031866-4474 <br /> <br />STATE OF COLORI\DO <br /> <br />8 <br /> <br />MEMORANDUM <br /> <br />Roy Romer <br />Governor <br /> <br />James s. lochhe.ld <br />Executive Director, DNR <br /> <br />OariesC. Ule, P.E. <br />Director. eWeB <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Dan Merriman <br />Bahman Hatami <br /> <br />DATE: <br /> <br />January 21, 1998 <br /> <br />SUBJECT: <br /> <br />,! <br />Agenda Item 17b, January 28-29, 1998, Board Meeting-- <br />Instream Flow Program -- Water Acquisition Program <br />Water Rights Valuation <br /> <br />On January 7, 1998, Board Member Janice Sheftel requested staff to address the specific <br />involvement of the Colorado Water Conservation Board staff in determining the value of the water <br />rights that are donated to the Instream Flow Program, The staff's involvement is explained below, <br /> <br />The staff does not get involved in the appraisal of donated water rights, Evaluation of these <br />rights is solely based on their relative importance to the protection of the natural environment, <br />The procedures that staff follows before presenting a water acquisition agreement or contract to <br />the Board are explained at the end of this memorandum, It should be noted that because water <br />rights are viewed as property rights, there may be potential tax benefits associated with donating <br />a water right It is the donor's responsibility to obtain an appraisal performed by a qualified <br />water right engineer, broker, or attorney to determine fair market value of the water right The <br />following table indicates the estimated values appraised by respective donors for some of the <br />water rights donated to the Board_ <br /> <br />DATE DONOR STREAM AMOUNT VALUE ($) <br /> (cfs) <br />1990 City of Boulder Boulder Creek Upto 15 $12,000,000 <br />1995 P&M/The Nature Conservancy Gunnison River 300 $7,000,000 <br />1997 Mrs, Nancy Hoelzen Hot Spring Creek 2 $5,000 <br />1997 The Conservation Fund Snowmass Creek Up to 6,2 $1,000,000 <br />