Laserfiche WebLink
VALUATION OF SELECTED HENDERSON MILL WATER RIGHTS <br /> November 2019 <br /> 90CW340, by decree entered in 1943, Pueblo changed the rights to include all beneficial <br /> uses, including reuse and successive use. <br /> The historical use of the Columbine Ditch water right was quantified in Case No. <br /> 9OCW340, and annual diversions are now limited to a maximum of 3,148 acre-feet. The <br /> decree also includes a volumetric diversion limit of 80,220 acre-feet for any 60-year <br /> period, which equates to an average annual diversion of 1,337 acre-feet. <br /> Based on the purchase price of $30.23 million, the Columbine Ditch water right was <br /> valued at$22,610 per acre-foot of average annual yield. The cost was adjusted from 2009 <br /> to 2019 dollars using a Consumer Price Index (CPI) adjustment factor, resulting in a 2019 <br /> value of$28,638 per acre-foot. <br /> 4.1.2 CRWCD Leases <br /> The Colorado River Water Conservancy District ("CRWCD") has an active water leasing <br /> program whereby water can be leased from Colorado River sources (primarily Wolford <br /> Mountain Reservoir and Ruedi Reservoir) and Eagle River sources (Eagle Park Reservoir <br /> and Homestake Reservoir). Information regarding 2017 lease rates was obtained from <br /> the CRWCD website. The leases may be entered for a term of 40 years, with a potential <br /> 35-year renewal period. Annual lease rates vary depending on the source of water. <br /> The annual cost of the leased water on the Colorado River upstream from the Roaring <br /> Fork confluence for municipal and industrial ("M&I") uses is currently $373.50 per acre- <br /> foot. This amounts to a capitalized present worth value of $12,991 per acre-foot if the <br /> leases were perpetual, using a 2.875 percent discount rate.2 The leases of Colorado River <br /> sources are limited to 1,000 acre-feet per year. <br /> The Eagle River annual M&I lease rate is $1,496 per acre-foot. This corresponds to a <br /> capitalized present worth value of $52,035 per acre-foot. Eagle River leases are limited <br /> to only 20 acre-feet. Because of the limited availability of Eagle River water for lease and <br /> the small amount of the transactions, the Eagle River leases are of only limited use in the <br /> valuation of the Subject Rights. <br /> 4.1.3 Vail Ditch Purchases <br /> The Grand County Mutual Ditch & Reservoir Company ("GCMDRC") made a series of <br /> purchases of shares in the Grand County Irrigated Land Company (a.k.a. Vail Ditch <br /> Company). The GCMDRC is made up of six shareholders: Grand County Commissioners, <br /> CRWCD, Grand County Water and Sanitation District No. 1, Winter Park Water and <br /> Sanitation District, the Town of Winter Park, and the Town of Granby. The Vail Ditch <br /> 2 USDA National Resources Conservation Service(NRCS)2019 discount rate for federal water projects. <br /> Spronk Water Engineers,Inc. Page 6 <br />