We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The Coloradoan first reported last week that the city had lost the water right due to failure to file the required paperwork. Utilities officials said Wednesday they did not know the value of a water right canceled by a water court last month.
“It’s not a straight calculation,” Lisa Rosintoski said. “There are a lot of variables involved. Our efforts are to quantify that accurately.”
The city bought the junior water right in 1985 as part of a project to expand Halligan on the North Fork of the Poudre River from 6,400 acre-feet to 21,000 acre feet. The expansion is part of the Halligan-Seaman Water Management Project, which involves expanding Fort Collins’ Halligan Reservoir and Greeley’s Milton Seaman Reservoir.
It represents one of a few planned regional reservoir projects, including ones planned by the Northern Colorado Water Conservancy District. The loss, however, will not affect Northern Water’s water storage plans, spokesman Brian Werner said.
The utility’s conditional water right amounted to more than 33,000 acre feet. An acre foot equals almost 326,000 gallons of water and is enough to serve 2.5 households in one year.
City officials say, however, that the loss of the water right will not affect the Halligan expansion.
“We have the water rights to support filling the bucket,” Rosintoski said.
Utilities officials will report to City Council on the value of the water right and what impacts the lost water right might have, if any. A date for such a presentation hasn’t been set yet.
“We need to do some internal analysis on how you break out what we spent on the project to try to figure out what the price of the right would be,´ said Donnie Dustin, water resource manager for Fort Collins Utilities.