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<br />( <br /> <br />rights within a 2~ mile reach of the <br /> <br />Gunnison River which includes most of the <br /> <br />Gorge. The Nature Conservancy plans to <br /> <br />offer the donated water right to the CWCB <br /> <br />for change to instream flow protection. <br />2. The holders of the other major conditional <br /> <br />water rights in the Gorge have signaled <br /> <br />their interest in essentially trading their <br /> <br />rights for developed storage supplies <br /> <br />upstream at Blue Mesa Reservoir. <br /> <br />VI. Conclusion <br /> <br />A. <br /> <br />. Under the law.of conditional water rights in <br /> <br />( <br />I. <br /> <br />Colorado, private initiative is an important <br /> <br />vehicle for water development planning. Such <br /> <br />private initiative has conventionally been <br /> <br />tested in lawsuits over whether a conditional <br /> <br />water right for a project should be granted and <br />continued. There may b8 little room to <br /> <br />incorporate instream flow protection into such <br /> <br />a lawsuits. <br /> <br />B. But because water development plans in the form <br /> <br />of conditional water rights are transferable <br /> <br />property, and since conditional water rights <br /> <br />can be changed to instream flow protection so <br /> <br />( <br /> <br />long as other water rights are not injured, <br />stalemates over the protection of instream <br /> <br />29 <br />