The board of directors for the Pagosa Area Geothermal Water and Power Authority had some bad news to digest at its meeting Monday night.
Before jumping into an explanation of the current crisis, Pagosa Verde project manager Kirsten Skeehan began with the financial portion of her report, explaining that almost $803,000 worth of work has been completed since drilling began last fall.
The U.S. Department of Energy’s (DOE) contribution was $499,000, while Pagosa Waters’ share was $5,761 and the Colorado Department of Local Affairs’ (DOLA) share was $298,000. This means there is still $2.8 million to spend from the DOE grant, Pagosa Waters still has $32,500 in its account, and the DOLA grant still has $1.7 million
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