Laserfiche WebLink
<br />CHAPTER 1 <br /> <br />PURPOSE AND NEED <br /> <br />June 6, 1986, to study the feasibility of developing hydro- <br />electric power on the UVRP. <br /> <br />Under the Act, the hydropower facility would be constructed and <br />operated under a lease of power privilege with Reclamation. <br />Funding for the hydropower studies is provided by the Sponsors. <br />Reclamation serves as the lead Federal agency responsible for <br />ensuring compliance with the National Environmental Policy <br />Act of 1969. <br /> <br />Participatinq Organizations <br /> <br />The UVWUA, a Colorado nonprofit corporation formed under the <br />Colorado Non-Profit Corporations Act, was formed in part to repay <br />the debt incurred to the Government during construction of the <br />UVRP and in part to operate and maintain the UVRP. The <br />construction repayment contract was renegotiated in 1948, and <br />final payment is scheduled for the year 2048. In 1988, <br />approximately $7 million of these loans were repurchased by the <br />UVWUA and refinanced with $2 million of debt supplied by the <br />State of Colorado. <br /> <br />The Act also allows a nonprofit corporation to carry out any <br />lawful purpose for which it was established. According to the <br />UVWUA's Articles of Incorporation, as amended in 1927, the <br />UVWUA's lawful purposes include the development of hydroelectric <br />power facilities. <br /> <br />, <br />I <br />'! <br /> <br />The UVWUA's involvement in the AB Lateral Facility would include <br />assistance in acquiring title to and/or the right to use lands <br />necessary for construction and operation of the facility and in <br />acquisition of the necessary water rights to operate the <br />facility. The UVWUA would review and approve any plans that <br />could affect the UVRP's operation including operation guidelines <br />and canal and lateral modification designs. The UVWUA would <br />operate and maintain the facility as part of normal operation and <br />maintenance of the UVRP. The UVWUA would share the revenue from <br />power sales but would not be at financial risk or liability for <br />financing, constructing, or operating the facility. Revenues <br />would be used for early debt retirement, for upgrading the <br />irrigation system, or for reducing annual water users <br />assessments. <br /> <br />Montrose Partners is a partnership formed under the Massachusetts <br />Limited Partnership Act (limited partners consist of a group of <br />private investors). Mitex, Inc., of Boston, Massachusetts, the <br />general partner, is a developer, owner, and operator of small <br />hydropower facilities and has participated in developing a number <br />of hydroelectric projects. <br /> <br />1 -2 <br />