From the Denver Business Journal:
Two Rivers said it has completed the purchase of 55 percent of the outstanding shares of Huerfano-Cucharas Irrigation (HCIC) through Two Rivers’ 50 percent-owned joint venture, HCIC Holdings LLC. It also said it has separate agreements to purchase an additional interest in HCIC to bring its total ownership to 90 percent by April…
The acquisition “gives Two Rivers the opportunity to now move forward in the repair of the Cucharas Dam and Reservoir, one of Colorado’s largest on-stream reservoirs,” John McKowen, Two Rivers chairman and CEO, said in a company statement. The reservoir is located in Huerfano County in southeast Colorado. “The Cucharas Reservoir, when restored, has 55,000 acre feet of storage capacity, which can be rebuilt for less than $375 an acre foot, compared to a current cost of construction of over $3,000 an acre foot for other large capacity reservoirs,” he said.
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