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<br />Water Project Construction Loan Program - Project Data <br /> <br />Borrower: Riverside Irrigation District (RID) <br /> <br />County: Morgan & Weld <br />Project Type: Water Rights Purchase <br /> <br />t <br /> <br />Project Name: RID Water Rights Purchase <br />Drainage Basin: South Platte <br /> <br />Water Source: Riverside Reservoir <br /> <br />Total Project Cost: $1,638,000 <br /> <br />Funding Sources: CWCB, RID <br /> <br />Type of Borrower: Agricultural <br /> <br />Aver. Delivery: 736 acre-feet <br /> <br />CWCB Construction Fund Loan: $1,464,500 Interest Rate: 2,50% Term: 30 years <br />(IncL 1% loan fee) <br /> <br />RID was formed in 1907 and operates under the Irrigation District Law of 1905, The service area is <br />located primarily in Morgan County, and water is tied to 22,494 acres of specific irrigated lands in <br />the District, owned by 147 different farms, The water is typically used to irrigate corn, alfalfa, <br />beans, and sugar beets, RID owns and operates the 90-mile long Riverside Service Canal. RID <br />has a direct flow water right, but relies primarily on storage water in Riverside Reservoir, owned by <br />RID's "sister" company Riverside Reservoir & Land Company (RRLC), RID farms also use alluvial <br />wells (about 100) for additional water, RID has numerous recharge decrees, and is obtaining a <br />court decreed augmentation plan, RID is able to deliver 41 ,500 acre feet to users, RID receives <br />about 75% of its water through its controlling interest in RRLC's Riverside Reservoir, There are a <br />total of 2505 Private Rights in RRLC, For over 20 years, RID was able to use 62 Private Rights <br />owned by Groundwater Appropriators of the South Platte (GASP) for irrigation within the RID . <br />system, in exchange for allowing GASP to use excess RID augmentation credits, In 2005, GASP .. <br />announced that they were dissolving and that all assets would be sold off, including their Riverside <br />water. RID is dependent upon the continued use of the GASP's Riverside water rights as a . <br />supplemental source, RID was able to purchase 46 out of the available 65,5 Private Rights at the <br />GASP auction in February 2006, using interim financing, That loan would be extinguished using the <br />proceeds of the CWCS loan, Prior to the acquisition of the subject 46 Rights, RID owned 1954 <br />Rights (78,0%), With the acquisition, RID now owns 2,000 Rights (79,8%), <br /> <br /> <br />'" <br /> <br />I <br />" <br /> <br /> <br />I <br />=~~"::'J--- <br />I ~.- <br /> <br />~ <br />159 <br />l .. i .. <br />~:rr~r(~~I'~'I.. 61__J:-_ _-:'~ .1-_ <br />~ -.-" """i <br />r-= i CI~,"vtlle <br /> <br />, ' 59 <br />. I <br />! ' <br />, I.. <br /> <br />l~--~- ~ 'u~ <br />\ I <br />-., Or:is 14 <br /> <br />.. <br /> <br />_r'~ <br /> <br />t <br /> <br />Location Map <br />