The Colorado River District and Xcel Power on Tuesday signed a historic settlement for the $98.5 million buy of the utility’s Shoshone hydroelectric energy plant water rights that go far to manage Colorado River flows in western Colorado because of their senior nature.
The motion kicks off what could possibly be a multi-year course of to satisfy the fundraising and different situations that the river district and Xcel might want to meet earlier than the acquisition will be accomplished.
The entities inked the acquisition settlement on Tuesday after the river district board accredited it in a particular assembly, and in addition licensed contributing $20 million for the acquisition from district group funding partnership income that’s generated by a property tax measure accredited by voters in 2020.
“How does historical past really feel? It feels fairly good at present, doesn’t it,” state Rep. Marc Catlin, R-Montrose, additionally vp of the river district board, stated in a signing ceremony for the deal in Glenwood Springs.
Learn extra at The Every day Sentinel.
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