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<br />ewCB STAFF DRAFT <br />12/29/82 <br /> <br />WATER PROJECT FINANCING NEEDS IN COLORADO <br /> <br />A Discussion Paper <br />prepared by the <br />Colorado Water Conservation Board <br />January, 1983 <br /> <br />Introduction <br /> <br />In recent decades, the State of Colorado and its political <br />subdivisions, except for municipalities, have historically played <br />a minor role in financing the investigation and construction or <br />rehabilitation of water conservat,ion and flood control projects. <br />The primary reasons for this have been the ability of municipal <br />and private industrial water users to finance their own projects <br />and the reliance on the federal government to finance irrigation <br />and flood control projects and some municipal water supply <br />projects. In the face of rapidly ,escalating construction costs, <br />significant reductions in the amount of federal funds available <br />for water project development, and calls for non-federal <br />participation in the financing of federal projects (i.e., <br />"up-front" cost-sharing), it has become necessary to examine the <br />means by which future water developments in the state can be <br />financed. <br /> <br />The Need for Future Water Development <br /> <br />Are Colorado's compact entitlements to be protected? Can we <br />afford to lose any time in taking the steps necessary to protect <br />those entitlements? Is Colorado's agricultural economy worth <br />preserving and expanding--our rural communities worth <br />stabilizing? Is dam safety important to the health and welfare <br />of our citizens? Are reliable municipal and industrial water <br />supplies not fundamental to our future growth and prosperity? <br /> <br />This is the agenda to which future water development in <br />Colorado must be addressed. It is an agenda which cannot wait if <br />the above questions are to be answered in the affirmative. The <br />investment required from state funds will amount to hundreds of <br />millions of dollars. <br /> <br />Both the Blue Ribbon Panel's report, "Colorado: Investing <br />in the Future" (July, 1981), and the "Five Year Capital <br />Investment Plan, FY 1983-1987" (January, 1982) illustrate the <br />range of water development needs which Colorado confronts. <br /> <br />185 <br />proj/fin <br />