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Greeley Water and Sewer Board Agenda November 2024

Neff Lake Pipeline Acquisition from Laramie River LLC Approved

City of GreeleyLARAMIE RIVER LLCNovember 20, 2024

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Description

The Greeley Water and Sewer Board approved a Purchase and Sale Agreement with Laramie River LLC for the acquisition of the Neff Lake Pipeline system, including cash payments over time, a ten-year water lease, and a ten-year lease-back arrangement. The negotiated deal allows the City to deliver reliable non-potable water and conserve potable supplies for future growth.

Contract Details

Vendor

LARAMIE RIVER LLC

Agency

City of Greeley, CO

Contract Type

OTHER

Document Date

November 20, 2024

Contract Term

10-year term (including 10-year water lease and 10-year lease-back)

Renewal Date

2034-12-31

Renewal Info

Authority delegated for amendments and extension of deadlines as needed; ten-year lease and lease-back included. Amendments allowed as long as substantive terms unchanged.

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Related Contracts

City of Greeley Water and Sewer Board Agenda Packet 2026-06-17

City of Greeley (Colorado)Cash Payment of $10.5M paid over time; $1.5M down at closing; $1M/year for 9 years (owner-carried financing at 5% interest), cumulative cash payments $13,077,893.00; plus non-monetary consideration (10-year water lease and 10-year pipeline leaseback)June 17, 2026

Greeley Water & Sewer Board Agenda October 2024

City of Greeley (Colorado)$1,500,000 down at closing, $1,050,000 on 1st anniversary, $1,102,500 on 2nd, $1,157,625 on 3rd, $1,215,506 on 4th, $1,276,282 on 5th, $1,340,096 on 6th, $1,407,100 on 7th, $1,477,455 on 8th, $1,551,328 on 9th; total payments $13,077,893 over 10 years; non-monetary: 10-year water lease and 10-year leaseback of pipelineOctober 16, 2024

Issuing Agency

City of Greeley

City

City of Greeley, CO

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Vendor

LARAMIE RIVER LLC

View vendor profile

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Cash Payment of $10.5M paid over time; $1.5M down at closing; $1M/year for 9 years (owner-carried financing at 5% interest), cumulative cash payments $13,077,893.00; plus non-monetary consideration (10-year water lease and 10-year pipeline leaseback)June 17, 2026

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