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John Waschak, 627 West Hawthorn Street, stated that he felt the sale of water was good <br />business, but he strongly objected to the sale of water rights, and felt that the citizens of <br />Louisville concurred. Waschak asked if the City was selling Howard Water. <br /> <br />Davidson asked Phare to explain that the City is exchanging a junior water right for a <br />senior water right in order to improve the quality of the water. <br /> <br />Tom Phare stated the water rights involved are forty (40) shares of the South Boulder <br />Canon Ditch and certain storage rights in Marfell Lakes, these are junior water rights. <br />Additionally Phare stated dthe City is not selling Howard Water. Phare explained that <br />this transaction is being done in the context of the Raw Water Master Plan. A recent <br />update indicated that the City had some junior water rights that were surplus in the <br />drought scenario. They are water rights with the same yield characteristics and the same <br />season, and thus better used to acquire some units of CBT. Phare noted that through <br />negotiations with the County the value of the CBT units could be approaching $500,000. <br /> <br />Waschak asked for the annual water yield and whether the water flow from South <br />Boulder Canon ran year round. <br /> <br />Phare stated South Boulder Canon ditch usually runs from May through July. The <br />Marfell Lakes are winter water on the lower half of the seniority list for South Boulder <br />Creek. Winter water typically runs from November 1 to April 1. The agricultural yield of <br />Marfell Lakes, on an average basis, was estimated at approximately fifty-acre feet. The <br />South Boulder Canon was approximately three-acre feet per share, however the safe yield <br />drops off significantly and there is no water during the drought scenario. The Marfell <br />Lakes would provide some yield during the drought. <br /> <br />Waschak asked how many shares were being sold, what were the annual yield of those <br />rights, and if Marshall Lake rights were involved. <br /> <br />Phare stated 40 shares of South Boulder Canon and the Marfell rights were being sold, <br />which would yield an estimated 4.5 acre-feet during a drought. He stated that no Marshall <br />Lake rights were involved. <br /> <br />Mayer agreed with Phare, and commented that given the rapid increase in the cost of <br />CBT water prices, this is a wise transaction for the City. Obtaining CBT (Colorado Big <br />Thompson) water provides more water in a drought year than it does in a wet year. When <br />Council reviewed the Raw Water Master Plan, there appeared to be a shortage of drought <br />year water. Mayer noted with recent purchases, especially CBT water, it will provide <br />water in a dry year. He also noted that it provides the added advantage of being in a <br />different watershed, rather than the South Boulder Creek watershed. He felt it was an <br />excellent transaction for the city in terms of providing water for the citizens not only in <br />years with average moisture but in years of severe drought. <br /> <br />Sisk asked Phare if there were any additional water rights in the County Inventory the <br />City could receive in lieu of the $90,000 cash purchase. <br /> <br />5 <br /> <br /> <br />