To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Mark Marlowe, P.E., Director of Castle Rock Water
Matt Benak, P.E., Water Resources Manager
Lauren Moore, Water Resources Project Manager
Title
Resolution Approving a Water Lease Agreement between the Town of Castle Rock and Sublette, Inc. [Rothe/Sublette Recharge Project, Weld County, CO]
Body
________________________________________________________________________________
Executive Summary
Castle Rock Water is seeking Town Council approval of a Resolution (Attachment A) for a water lease with Sublette, Inc. (Sublette). Sublette is interested in leasing a portion of Castle Rock’s recharge credits associated with the Rothe-Sublette Recharge Project located in eastern Weld County, just north of the South Platte River. Castle Rock is currently leasing 600 acre-feet (AF) of these credits to the Town of Wiggins, Colorado in 2023; however, there are approximately 134 AF of recharge credits that are currently unused. Sublette intends to use a portion of these credits to offset some of their well pumping depletions from crop production.
If Council approves this lease, 134 AF of recharge credits will be leased to Sublette at the rate of $36.50 per AF, which amounts to $4,891 in revenue. This is the current agricultural leasing price that the Town has established with other agricultural entities.
Proposed Motion
“I move to approve the Resolution as introduced by title.”
Alternative Motions
“I move to approve the resolution as introduced by title, with the following conditions: (list conditions).
“I move to continue this item to the Town Council meeting on _____ date to allow additional time to (list information needed).”
Attachments
Staff Report
Attachment A: Resolution
Exhibit 1: Agreement