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I I I I I I I I I I I I I I I I I I I b. The usable yield from the Closed Basin Proj ect will be divided, as nearly as possible, on a long term 60/40 basis with the Rio Grande being entitled to 60% of the usable project yield and the Conejos River being entitled to 40% of the usable project yield. c. The Rio Grande shall be entitled to claim up to and including 80 % of the project production in any year to assist it in achieving its 60 % share over any 15 year period. The Conejos shall be entitled to at least 20 % of the project production in any year that said water is usable by the Conejos. If not claimed by the Rio Grande, the Closed Basin production may be used entirely by the Conejos. d. Any project water not usable by one river system in a particular year may ce used by the other river system so long as the long term 60/40 allocation between the rivers is maintained. V.4 STATUS OF CLOSED BASIN PROJECT As of the date of this report, the conveyance canal of the Project is essentially complete. Laterals and wells have been completed in Stages 1, 2 and 3 to the extent of enabling the delivery of approximately 50,000 acre-feet of salvaged water per year to the Rio Grande. Stages 4 and 5 are currently under construction. V.5 CLOSED BASIN PROJECT/CONEJOS BASIN EXCHANGE INVESTIGATION A reconnaissance investigation was performed of the ability to exchange the Conejos portion of the Priority One deliveries to Conejos users. This investigation was conducted in two parts. The first part estimated the Conej os Basin exchange potential (i.e. Conejos Basin outflows caused by Rio Grande Compact curtailment which could be made usable by Basin users if an alternate source of water is provided to satisfy the Compact). The second part compared the Conejos Basin exchange potential with the theoretical Conejos allocation of Closed Basin Project deliveries developed for the two mainstem diversion scenarios. 39