City of Greeley Water and Sewer Board Agenda Packet 2026-06-17
Greeley Poised to Acquire Neff Lake Pipeline System
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Description
Greeley Water & Sewer staff recommend final approval of a Purchase and Sale Agreement with Laramie River LLC to acquire the Neff Lake Pipeline raw water system. The deal combines $13.1 million in cash payments over 10 years with a 10‑year water lease and pipeline leaseback, enabling low-cost non‑potable water deliveries for future city growth.
Contract Details
Contract Amount
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)
Vendor
LARAMIE RIVER LLC
Agency
City of Greeley, CO
Contract Type
FACILITIES
Document Date
June 17, 2026
Contract Term
Cash payments over 10 years; 10-year water lease (2025–2034); 10-year pipeline leaseback (2026–2035)
Renewal Date
2035-12-31
Renewal Info
Agreement structure includes a 10‑year promissory note for owner‑carried financing, a 10‑year lease of 1,000 AF of excess water (2025–2034) with a suspension contingency in shortages, and a 10‑year leaseback of the pipeline to Laramie River (2026–2035). No automatic renewal terms are described.
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