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Alternative B - Augmentation <br />Gravel pit augmentation requires replacements to the river due to evaporation from the unlined lake surface in <br />both the summer and the winter months. Typically, ditch water is used for summer augmentation. This ditch <br />water must be senior and thus have a reliable delivery each year. Winter augmentation can be provided through <br />a lease for temporary replacement, but lined storage is generally needed for long -term winter augmentation. <br />Winter includes water that is needed for replacement of evaporative losses and water that is <br />required to maintain historic return flows. Evaporative loss for this area is approximately 2.9 acre- feettacre <br />exposed annually. Return flow obligations are approximately 20% of the total irrigation requirement. <br />For this area, the approximate acquisition cost of senior ditch water that can be used for summer augmentation <br />is approximately $ 2000 -$2500 per acre -foot consumptive use Winter storage for augmentation and <br />maintaining i istoric return flows is estimated at $1000 -$1500 per acre -foot. Note that if the property has senior <br />water rights attached to it, such as Greeley Canal No. 3, then this water can be used for augmentation and the <br />cast of purchasing new water would decrease or be eliminated. However, a change of use would be required on <br />the existing water rights to allow them to be used for augmentation. <br />With this end land use alternative, there is potential value in selling the property as open space or for <br />development. An estimated value for open space is $5000 per acre <br />Weld County zoning ordinances require that any developmcnt be located outside the 100 -year floodplain. Due <br />to the site being located next to the river, development of this property may not be an option. An estimated <br />range for development value is $20,000 - $50,000 per acre. <br />Alternative C - Lined Storage <br />There are several factors that influence the value of lined storage: competition in the area, location on the river, <br />and location in relation to filling structures. Having the Greeley Canal No. 3 as a potential filling structure adds <br />value to creating storage at this site. In addition, the location of the Hanes Property on the river has exchange <br />potential for several municipalities and may add to the competition for the site. <br />There are costs associated with lining a gravel pit for storage. The two most common methods of lining are a <br />compacted clay liner and a slurry wall. Slurry walls are typically more expensive. If there are not sufficient on- <br />site clays, however, using a compacted clay liner also becomes very expensive. <br />In almost all cases, the value of storage once a gravel pit is lined far exceeds the cost for the actual linear. Gravel <br />pit storage values have a large range, depending on the factors listed above. Past sales have been from <br />approximately $1000 -$2600 per acre -foot of storage. Due to the location of this site, the value is most likely on <br />the lower end of this range. Even with the "low end" value, the value of lined storage at this site may exceed <br />the cost to line. <br />It is difficult to evaluate what the true potential is for this site with only a brief analysis. There is potential value <br />of this site as lined storage, but a detailed evaluation would need to be completed to develop a full <br />understanding of this particular site. <br />11990 Grant Street, Suite 304 a Denver, Colorado 80233 a (303) 452 -6611 • (Fax) 452-2759 <br />