Title
RESOLUTION APPROVING FIRST AMENDMENT TO INTERGOVERNMENTAL WATER RESOURCES AGREEMENT
Body
Summary and Background Information:
The City is a party to an intergovernmental agreement with the South Adams County Water and Sanitation District and the PV Water and Sanitation Metropolitan District in which PV dedicated water from Lost Creek Designated Basin to South Adams, and, in exchange, South Adams issued to PV the right to purchase 4,775.836 Equivalent Residential Unit Water Connections and ERU Sanitary Sewer Connections. These ERUs are restricted and can only be used within SACWSD’s system. There are further restrictions on the ERUs that they must be used on properties annexed to Commerce City. The PV Bondholders are preparing for a sale of PV ERUs and it was determined that the IGA should be amended to facilitate this sale. One of the amendments impacts the annexation requirement in the IGA and alters the language to exempt small users from annexing in accordance with the City’s implementation IGA with SACWSD. Another amendment allows SACWSD to purchase PV ERUs.
Staff Responsible (Department Head): Chris Cramer, Community Development Director
Outside Presenter: Paul Zilis, Special Council
Financial Impact: N/A
Funding Source: N/A
Staff Recommendation: Approval
Alternative:
Council could approve the amendments to the IGA or Council could choose to not amend the IGA.