From The Denver Post (Howard Pankratz):
Originally built in 1910, the facility was in need of the upgrade in order to continue to operate. Without a new turbine and generator, operation of the facility was expected to stop within five years or less, city officials said…
Over the years, the system was owned and operated by numerous companies. In 2001, the city of Boulder purchased the system from the Public Service Co. of Colorado.
The total project cost was approximately $5.15 million and was funded by city water utility funds in addition to the federal grant.