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Description & Proposed Funding: <br />Equipment/Project Description: <br />This project is for the acquisition of water rights to meet City water <br />usage demands with emphasis on future growth. <br />Cost allocation methodology for projects with more than one <br />funding source: <br />Project has only one funding source. Based on $10,000/acre-feet with an <br />annual escalation factor of 2.5%. Acquisitions are anticipated over <br />multiple years. <br />Project revenue or grants, if any, that will support the project <br />and the impacts to the operating budget: <br />No grants have been identified at this time that may be used to support <br />the project. <br />Percent <br />100% <br />Project Name: Water Rights Acquisition <br />Submitted By: Public Works <br />Program(s): <br />Utilities <br />Six -Year (2019-2024) Capital Improvement Plan <br />Request Form for Capital Equipment or Capital Project <br />Identification and Funding Source <br />Sub-Program(s): <br />Water <br />Funding Source(s): <br />Version: 2/28/2018 <br />Water Utility Fund <br />100% <br />Estimated Cash Flow Schedule <br />Equipment or <br />Project Costs <br />Year 1 <br />2019 <br />Year 2 <br />2020 <br />Year 3 <br />2021 <br />Year 4 <br />2022 <br />Year 5 <br />2023 <br />Year 6 <br />2024 <br />Six -Year <br />Total <br />Land Acquisition <br />Design & Engineering <br />Other Prof Services <br />Construction <br />Other Equip/Project Costs <br />Capital Equipment Purch <br />565,000 552,000 566,000 580,000 <br />2,263,000 <br />Total Costs (Gross) <br />565,000 552,000 <br />566,000 580,000 <br />2,263,000 <br />Grants or Other <br />Off -Setting Revenue <br />Impact to Annual <br />Maint/Operating Costs <br />Description and Justification <br />Justification and Alignment with Program/Sub-Program Goals & Key Performance Indicators: <br />Under long term buildout conditions the City may be unable to provide adequate water supplies. As outlined in the 2016 Water <br />Management Plan, buildout demand was set at 6,700 acre-feet. Firm yield for supply are projected at 6,500 acre-feet corresponding to a <br />shortfall of 200 acre-feet. The Plan provided for 11 recommendation: including the acquisition of 200 acre-feet of additional water <br />supplies. <br />Is there a computer hardware or software component to this request? No If so, has I.T. Dept. reviewed this request? <br />Department Priority Ranking: High Request Number: (Finance Use) <br />