Resolution 2024-64 - Laserfiche WebLink

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AGREEMENT FOR LEASE OF COLORADO-BIG THOMPSON PROJECT WATER This LEASE of the beneficial use of water yielded from the Colorado -Big Thompson ("C- BT") Project (the "Lease") is entered into this 17th day of December 2024 (the "Effective Date"), by and between the City of Louisville, a Colorado home rule municipal corporation, acting by and through the City of Louisville Water and Wastewater Activity Enterprise, whose address is 749 Main Street, Louisville, Colorado 80027-1829 (herein after referred to as "Louisville"), and Christen and Kyle Kolb, whose address is 11820 Niwot Road, Longmont, CO 80504 (hereinafter collectively referred to as "Lessor") (Louisville and Lessor each being a "Party" and collectively the "Parties"). RECITALS WHEREAS, Lessor owns 20 Acre Foot Units of C-BT Project water ("C-BT AFUs"), as administered by the Northern Colorado Water Conservancy District ("Northern Water"), and pursuant to Allotment Contract No. 9419 between the Northern Water and Lessor. WHEREAS, Louisville owns and operates a municipal water supply system that provides water service to its citizens, which requires Louisville to ensure that it has sufficient water supplies to prepare for long-term increases to the demands on its system. WHEREAS, Louisville entered into a separate "Water Tap Expansion Agreement" with Fresca Holding Company, LLC ("Fresca") that specifies the terms and conditions for Fresca to increase its annual water usage for the duration of Fresca's tenancy at 1775 Cherry Street, Louisville, Colorado 80027 (the "Property"). WHEREAS, pursuant to the Water Tap Expansion Agreement, Fresca is required to procure supplemental water for use in Louisville's municipal water system to counterbalance the temporary increase in the annual water demand during the remainder of Fresca's tenancy of the Property. WHEREAS, the Water Tap Expansion Agreement provides that a lease or bridge supply subcontract of C-BT Project water may be the mechanism by which supplemental water is obtained for use in Louisville's municipal water system, provided that the lease payments are made by Fresca. WHEREAS, subject to the terms and conditions of this Agreement, Louisville desires to lease 4 C-BT AFUs per year from Lessor for use in its municipal water supply system located within the Northern Water boundaries. WHEREAS, Lessor is willing to lease 4 C-BT AFUs to Louisville in accordance with the terms and conditions of this Lease. WHEREAS, Northern Water rules applicable to the Parties require Northern Water approval of any long-term leases of C-BT AFUs and the Parties intend to seek Northern Water approval of this Lease. 1