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City Council Meeting Minutes March 2, 2021 Page 4 of 6 COLORADO WATER CONSERVANCY DISTRICT BETWEEN THE CITY OF LOUISVILLE AND THOMAS E. SHONKA, AND AUTHORIZING TEMPORARY USE PERMITS IN CONNECTION THEREWITH Mayor Stolzmann introduced the item and opened the public hearing. She asked for any disclosures. There were no disclosures. Cory Peterson, Deputy Director of Utilities, stated there are two actions requested this evening. The first is an ordinance to sell the City's interest in the New Coal Ridge Ditch Company; the sale proceeds will be used to enhance other water rights and will have a positive effect on the City's water portfolio. The second action is a resolution that will facilitate the acquisition of 13 Colorado -Big Thompson Units (CBT); these units are easily integrated in the City's system and will provide additional water for the coming years. These units make up about 4% of the long-term plan to increase firm yield as outlined in the water master plan. These have been reviewed by both the City's Water Attorney and the City Attorney and staff recommends approval of both actions. Public Comments — None. Councilmember Lipton asked why the temporary use agreement is needed. Peterson stated the final transfer can take some time to be completed and the temporary use agreement allows the City access to these units immediately until the transfer is finalized. Councilmember Lipton asked if any of these actions are likely to require adjudication. Alan Hill, Water Attorney, stated the transfer of the CBT units is not subject to water court adjudication. For the New Coal Ridge Ditch process, it is the buyer that will take the transfer through the water court and we don't think there will be any opposition. His office will be following the process and watching the City's interests. Councilmember Lipton suggested the $4.4M in proceeds from this be dedicated to future water rights acquisitions and closely associated projects related to conveying future water purchases. Mayor Stolzmann noted that earlier today staff provided an addendum to the packet with a revised agreement related to the ordinance. Mayor Pro Tern Maloney stated he supports these items to strategically enhance the City's long-term water plan. Public Comments — None. Mayor Stolzmann closed the public hearing.