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<br />\. <br /> <br />, <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />Agenda Item 9 <br />January 24, 1996 <br /> <br />2 <br /> <br />the purchase is not driving the market up. <br /> <br />The CWCB asked the Staff to draft a proposed revision to the Guidelines, incorporating the <br />above comments. <br /> <br />DISCUSSION <br /> <br />Generally the Board said the purchase must (1) satisfy an existing water shortage, (2) consist of <br />water rights already available for municipal use, and (3) have a price supported by an appraisal. <br /> <br />STAFF RECOMMENDATION <br /> <br />Staff recommends that the Guidelines for the Water Project Construction Fund Loan <br />Program, paragraph 1.3.1.b., which currently reads: <br /> <br />"The costs of acquisition of land and water rights are not eligible for CWCB funding <br />except as pan of a project. " <br /> <br />be revised to read as follows: <br /> <br />"The costs of acquisition of land and water rights are eligible for CWCB funding as <br />part of a project. <br /> <br />When no project is proposed, the costs of acquisition of water rights is eligible for <br />CWCB funding if the purchase is to satisfy an existing water need, and the purchase <br />price is supported by an appraisal. <br /> <br />If the water rights are for municipal use, the purchase may consist of water rights <br />already available for municipal use. <br /> <br />ACTION TAKEN BY THE CWCB JANUARY 24.1996: The Guidelines paragraph (1.3.1.b.) <br />are to be revised to read: <br /> <br />"The costs of acquisition of land and water rights are eligible for CWCB funding as <br />part of a project. <br /> <br />When no project is proposed, the costs of acquisition of water rights is eligible for <br />CWCB funding if the purchase is to satisfy an existing water need or shortage, and <br />not for future growth. The purchase price must be supported by an appraisal. <br /> <br />Attachment <br />C:\wp51\PROJ~NEW\9.jan <br />