We would like to gauge the community’s willingness to support the purchase of water rights forever versus leasing the water for our two lakes.
If we have the opportunity to purchase water rights (approximately 42 ac-ft) in partnership with another local residential entity to replace our current lease with Pueblo Board of Water, which expires in 2029, would you support the following:
Expend $357,000 to purchase water forever, financed over 30 years through Colorado Water Conservation Board at approximately 2.8% interest rate, requiring an annual increase in dues of $35/lot owner and;
Fund our share of the estimated legal and engineering fees to process the sale of the water ($200,000/2 = $100,000) requiring a separate one-time special assessment of $560/lot owner ?
This is not a vote but just a poll so the board can determine the best possible options for ELHA.