Title
RESOLUTION APPROVING WATER RESOURCES AGREEMENT
Body
Summary and Background Information:
The City currently owns 163.53 ERUs for irrigation. 29 Fulton shares were purchased back in 2003. 5 paired Burlington/Wellington shares were purchased from Sweetwater in 2015. These shares combine for a total of 163.53 ERUs. These irrigation ERUs can be used on 2k Projects including the Villages of Buffalo Run East Park which needs 45.4 ERUs and the Turnberry Park which needs 47 ERUs in 2016 for a total of 92.4 ERUs. The purpose of the water resource agreement is to establish the terms and conditions for the use of these ERUs including the tap fee credits associated with the ERUs.
Staff Responsible (Department Head): Chris Cramer, Community Development Director
Staff Member Presenting: N/A
Financial Impact:
$ 818,467.65 tap fee credit based on $5005/ERU for 163.53 ERUs
Funding Source:
Determined at the time of tap purchase.
Staff Recommendation:
Approval
Alternatives:
Council could approve the agreement with South Adams County Water & Sanitation, Council could propose changes to the agreement, or Council could decide not to approve the agreement.