Greeley board approves amendment with Wingfoot, accepts 250 raw-water credits as compensation

GREELEY, Colo. — The Greeley Water and Sewer Board on July 16 approved a First Amendment to the amended and restated master purchase and sale agreement for the Terry Ranch project and separately approved a related purchase-and-sale agreement transferring 250 raw-water credits to the water enterprise as compensation for that amendment.

Board members said the actions align the Wingfoot schedule with the utility’s capital plan and formalize how Wingfoot’s cash contributions and the city’s matching funds will be managed.

Sean (Director, Water and Sewer Department) told the board the original agreement transferred 1,200,000 acre-feet of deep aquifer groundwater to the city and called for $125,000,000 in cash contributions from the seller to help fund infrastructure. He said the amendment chiefly extends the schedule for remaining cash contributions, clarifies escrow mechanics and remedies for failure to fund, and narrows the city’s ability to add new sources for dedication until later in the agreement’s term. “You cannot have…