TO: Honorable Mayor and Council
FROM: Doyle Wilson, Water Resources Coordinator
Gary Parsons, Operations Director
SUBJECT:Title
Adopt Resolution 15-2931 Approving Amendment No. 2 to Subcontract 95-101 with the Mohave County Water Authority
Body
FUNDING SOURCE:
CIP-Irrigation and Drainage District Fund
PURPOSE:
To approve a subcontract amendment to acquire 250 acre-feet of 4th priority Colorado River water from the Mohave County Water Authority.
BACKGROUND:
Mohave County Water Authority (MCWA) held five hundred acre-feet of 4th priority Colorado River water for potential industrial customers and is now available for MCWA members. Lake Havasu City requested and received an amendment to its existing subcontract (95-101) to add 250 acre-feet to its Colorado River water entitlement.
COMMUNITY IMPACT:
This water acquisition will bring the City's total Colorado River water entitlement to 28,581.7 acre-feet, which will provide greater security during declared Colorado River shortages and provides a greater opportunity for growth in the City.
FISCAL IMPACT:
Funds have been budgeted in the Water Division CIP Project WT7300. The cost of the 250 acre-feet of water at $1079.09 per acre-foot will be $269,772.50. The amendment stipulates that if payment is spread out to the end of 2024 a down payment of $67,443.12 is due by December 31, 2015 with annual payments made thereafter.
ATTACHMENTS:
Resolution No. 15-2931
Amendment No. 2 to Subcontract 95-101
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution 15-2931 approving Amendment No. 2 to Subcontract 95-101 with the Mohave County Water Authority for the acquisition of 250 acre feet of Colorado River water.