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<br />. <br /> <br />. <br /> <br />Senator Dan Noble <br />August 29, 1985 <br />Page two <br /> <br />the Bureau <br />reasonably <br />purposes. <br />H.B. 1102 <br /> <br />to the extent that the costs of the reservoir could <br />be allocated to fish and wildlife and recreational <br />In anticipation of Bureau funding, section 1 (1) (c) <br />states that: <br /> <br />of <br /> <br />The final location and size of the Monument <br />Creek Reservoir, with respect to the Dolores <br />Project, shall be subject to the Board's <br />prior approval and the [Colorado Water <br />Conservation] Board's cost for said reservoir <br />shall be limited to that portion of the total <br />reservoir cost which is, in the Board's <br />opinion, reasonably allocable to municipal <br />water supply purposes. . <br /> <br />Since the summer of 1983, I have been working with the <br />Bureau, the District, and local interests in an effort to ensure <br />that funding could be obtained from the Bureau for a portion of <br />the costs of the enlarged and relocated Monument Creek <br />Reservoir. While the Bureau has concluded that it has the <br />legal authority to use section 8 funding under the Colorado River <br />Storage Project Act for this purpose, it has recently determined <br />that federal financial participation in the proposed reservoir is <br />not economically justified because the proposed reservoir has a <br />benefit/cost ratio of only .1 to 1. Given these circumstances, I <br />thought it timely to advise local interests of the conclusions to <br />which the Bureau had come and of the options which are now <br />available. <br /> <br />At that meeting, I reported the background information as it <br />has been stated above. I then indicated that I thought there <br />were three options available at this point: <br /> <br />1. Ask the Bureau to reconsider its position on the <br />economics of the proposed reservoir in an effort to see <br />if we could get a more favorable response, <br /> <br />2. Accept the fact that the Bureau would not financially <br />participate in the proposed reservoir and proceed to <br />determine whether a financially feasible reservoir <br />project could be developed without Bureau funding, and <br /> <br />3. Reach the decision at this time that the proposed <br />Monument Creek Reservoir cannot be achieved absent <br />Bureau funding and proceed, therefore, to determine the <br />