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<br />, . <br /> <br />e <br /> <br />e <br /> <br />e <br /> <br />Currently, the Construction Fund is capitalized at about $200 million. The CWCB has the <br />capacity to recommend the authorization of $18 million in new loans annually from the <br />Construction Fund and $8 million annually from the Severance Tax Trust Fund Operational <br />Account. If no other loans were authorized, the CWCB could loan about $375 million over a 15- <br />year period to build a project of this size. <br /> <br />The above cost estimates are intended to include legal expenses, however, these costs could be <br />much higher. For example, it is estimated that Arapahoe County has spent more than $5 million <br />litigating the water rights issues associated with the proposed 900,000-acre foot Union Park <br />Project. The legal costs associated with Two Forks also ran into the millions of dollars. Since the <br />CWCB would be responsible for covering legal costs that would exist during the feasibility stage <br />and later at the planning, design and construction phase, the Attorney General's office may have <br />to hire another attorney to represent the CWCB. As many as four new lawyers might be needed <br />to address the legal issues involved with permitting and construction of a project (s). These new <br />FTEs would be needed from 2 to 10 years. <br /> <br />The organizational study of the CWCB is estimated to cost $60,000 and take about six months. <br />This cost is based on an organizational and FTE study that was conducted by Colorado State <br />Parks. <br />