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<br />, <br /> <br />Agenda Item 29 <br />January 27-28, 2004 Board Meeting <br />Page 2 of2 <br /> <br />. <br /> <br />Discussion <br />Depending on how the latest cost increases are allocated, they mayor may not impact the cost of <br />M&l water from the project. The cost allocation is particularly important to those that have already <br />entered into repayment contracts (i.e. the Colorado Water and Power Development Authority and the <br />San Juan Water Commission in New Mexico) but equally important to those that may contract for <br />water at the conclusion of the project. The CWCB has an option to acquire 5,280 acre-feet of ALP <br />water depletions (approximately 10,560 acre-feet of diversions) at the conclusion of construction. If <br />the cost is reasonable and competitive with alternative supplies, the CWCB may wish to exercise <br />that option and convey all or a portion of that supply to local water users. To date, we have had an <br />expression of interest in all or a portion of that supply from a water conservancy district that is <br />attempting to form in the Durango area <br /> <br />Staff is participating in discussions with Interior and Reclamation, as are other Colorado and New <br />Mexico interests, concerning the allocation of these increased costs. The goal is to keep the cost of <br />ALP M&I contract water as reasonable as possible. We will keep the Board informed as to how <br />these discussions are proceeding. <br /> <br />Attachments <br /> <br />. <br /> <br />. <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />