City Council Minutes 1999 07 06 - Laserfiche WebLink

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South Boulder and Coal Creek, .45 shares of South Boulder and Coal Creek First Extension, and 1.7 shares of Farmers Reservoir and Irrigation Company, or Marshall Lake. The City of Louisville now owns those. Boulder County has suggested that the sale agreement contain the same language used for the water on the east parcel. Specifically, that the water rights would be continued to be owned by the City. If, in the future, the City would wish to convey a transfer or remove the water rights from agricultural use on the property, that the City could provide a substitute supply of water in the equivalent yield amount. He stated that if the City were going to do that, the County would be notified and they would have a right to object. He explained that this agreement is the same for the east parcel. He stated that staff has reviewed other possible substitute water supplies but has not been able to locate water which can make its way to the parcel and be used for that. There are seven to eight acres that the water rights represent. He requested Council's consent to change the original sale agreement to include a provision in the Admor west document that would put the water shares on the property with the City retaining ownership and the ability to find a substitute water supply for the water rights. Davidson asked for the value of the water rights. Simmons replied that he is unable to calculate the value at this time. Davidson stated that this wasn't part of the original deal when the City was negotiating to sell the land to a private landowner, as the City was not going to sell the water rights. He explained that in the original deal, Boulder County was going to pay the City half of what the private landowner was going to pay. Lathrop asked whether water from the Goodhue Ditch could be delivered to the property. Simmons replied, no, and explained that Goodhue is below the elevation of the parcel. It would require modifying the ditch or pumping water from the ditch. Mayer asked if the equivalent amount of water has been defined. Simmons replied equivalent would be measured in acre-feet and the amount of acre-feet that is available that can be applied to the property. He explained that a typical rule of thumb that has been used is two acre-feet of water per acre, however, this doesn't come near that amount. Mayer stated that he felt that these are pretty high-quality water rights. Davidson asked Simmons whom, specifically, at Boulder County asked for the water rights. Simmons replied Commissioner Ron Stewart. 16