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Pitkin County approves purchase of Twin Lakes shares to bolster Roaring Fork flows
Summary
The county voted Jan. 28 to buy 60 Twin Lakes Reservoir shares and 34 Fountain Mutual shares for a combined $6.5 million, financing the deal through the Healthy Rivers and Streams fund with interim general‑fund bridge and bond reimbursement. The board endorsed the purchase and a related reimbursement resolution.
Pitkin County commissioners voted unanimously Jan. 28 to pursue a negotiated purchase of water rights on the Eastern Slope, approving an ordinance to acquire 60 shares in the Twin Lakes Reservoir and Canal Company and 34 shares in the Fountain Mutual Irrigation Company for a combined purchase price of $6,500,000 plus a 5% commission.
County staff told the board the Twin Lakes shares are expected to yield roughly 45 acre‑feet per year and carry a 1930 priority date. According to Adam of Westwater Research, the Twin Lakes change case (mid‑1970s decree) authorizes some Twin Lakes water for use in Division 5 on the Western Slope, and staff plan to hold purchased water in Grizzly Reservoir and release it consistent with the decree.
"We approached the seller before the shares hit the open market," Adam said, describing months of negotiation and a closing target in April following an allowable substitute water supply plan period. Finance staff said the county will initially bridge roughly $4,000,000 from the general fund and reimburse that amount later from the Healthy Rivers and Streams fund and bond proceeds.
Why it matters: county officials said the purchase returns consumptive water to the Roaring Fork watershed at critical times and secures an end user to ensure releases flow downriver rather than be severed. Healthy Rivers and Streams staff and the program's board recommended the acquisition.
Board reaction and next steps: Commissioners praised the deal as a generational benefit for local rivers. The board voted to approve the ordinance and asked staff to present a reimbursement resolution and bond program details at the next hearing. Staff said the Fountain Mutual shares, not decreed for Western Slope use, were bought as part of the package and will be traded or resold if feasible.
The county clerk will schedule related second‑reading and reimbursement items for the Feb. 11 meeting.
(Approved motion: purchase ordinance; funding mechanism: Healthy Rivers fund with general‑fund bridge and later bonding; anticipated yield: ~45 acre‑feet/year.)
