Laserfiche WebLink
<br />',~< ;~. . ':'>t;':::O " <br /> <br />'~W-P'. co.-. <br />o ,,;;,~,:~~~ <br />. . <br /> <br />CWCB Members <br />January 21, 1998 <br />Page 2 <br /> <br />- <br /> <br />With a charitable contribution, there is the chance that the IRS will audit the donor regarding the <br />amount of his or her charitable donation, (This is currently the case for Pittsburgh & Midway <br />(P&M) which has declared a $7,000,000 tax credit for its water right donation to the CWCB <br />through the Nature Conservancy), It is the donor and his or her qualified appraiser who must <br />defend the appraised value of the subject water right to the IRS. The Board does not verifY or <br />confirm such values, <br /> <br />Water ACQuisition Procedures <br /> <br />Consistent with the Board's rules and regulations, staff has developed the following <br />procedures: <br /> <br />L <br /> <br />Preliminary evaluation of the water right <br /> <br />~ <br /> <br />A, Absolute water right <br /> <br />Staff will conduct a general review of the decree, ownership, and diversion <br />records based on available information at the Office of the State Engineer to <br />estimate the yield of the subject water right, e <br /> <br />B, Conditional water right <br /> <br />Acquisition of conditional water is significantly limited per Section 37-92-102(3) <br />(c,5), c.R.S, In addition to evaluating the decree and estimating the physical <br />availability of the subject water right, staff will make certain that the conditional <br />water can be used in accordance with the Board's statutory requirements, <br /> <br />2, Evaluation of the streams for which the acquired water will be used; and <br /> <br />A. The Board holds instream flow water right(s) on the stream, <br /> <br />The staff will evaluate how often and by how much the acquired water right <br />would supplement the existinginstream flow rights when they are not being <br />satisfied, <br /> <br />B. The Board does not hold an instream flow water right on the respective stream, <br /> <br />The staff will request the Colorado Division of Wildlife to determine the amount <br />of water necessary to preserve the natural environment to a reasonable degree, <br />Once a flow recommendation is determined, staff will conduct water availability __ <br />studies to determine the physical availability of natural flow in the respective _ <br />