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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />FEASIBILITY REPORT IN SUPPORT OF <br />COLUMBINE RANCHES PROPERTY OWNERS ASSOCIATION'S <br />APPLICATION FOR LOAN FROM THE <br />COLORADO WATER CONSERVATION BOARD <br />TO OBTAIN AUGMENTATION WATER <br />FOR THEIR IRRIGATION WELL <br /> <br />INTRODUCTION <br /> <br />The Columbine Ranches Property Owners Association, CRPOA, has a <br />large capacity shallow well which supplies the water for a centralized distribution <br />system that is used to irrigate lawns, gardens, and some pasture within the <br />Subdivision, as well as provide water for domestic animals and for fire <br />protection. That well must be augmented to prevent injury to senior water rights <br />and to comply with the Division of Water Resources Rules for the South Platte <br />River Basin. The CRPOA desires to take action which will allow the well to <br />continue to operate with certainty into the future. They believe that purchase of <br />senior water rights having a consumptive use equivalent to the consumptive use <br />caused by their well will provide the necessary augmentation water to allow their <br />well to operate uninterrupted in the future. <br />The CRPOA desires to purchase senior water rights to augment their well <br />and will need to borrow money to finance such a purchase. This feasibility <br />report supports the loan application being submitted to the Colorado Water <br />Conservation Board, CWCB, for a loan to purchase the desired water rights. <br /> <br />DESCRIPTION OF PROPERTY OWNERS ASSOCIATION <br /> <br />The legal entity responsible for coordinating and enforcing actions within <br />the subdivision as well as holding ownership to community property is the <br />Columbines Ranches Property Owners Association Inc., a nonprofit corporation <br />recognized by the State of Colorado. The CRPOA has a set of Bylaws and there <br />are Covenants that specify what can be done within the Subdivision and which <br />also describe how the Association can collect assessments and disburse funds <br />to meet their responsibilities. Each owner of a lot in the Subdivision shall be a <br />member of the CRPOA and has one vote per lot regardless of the number of <br /> <br />i <br />