Valana K Reservoir No. 1 is a private water resource located in Basalt, Colorado, with a primary purpose of recreation, including fish and wildlife pond activities. Built in 1972, this Earth dam stands at a height of 19 feet and has a storage capacity of 34 acre-feet. The reservoir covers a surface area of 2 acres and has a maximum discharge capacity of 1316 cubic feet per second.

Despite its recreational value, the reservoir poses a significant hazard potential with an unsatisfactory condition assessment as of May 2017. The dam underwent modifications in 2005 to enhance its hydraulic and structural integrity. Valana K Reservoir is inspected every two years to ensure safety standards are met. In case of emergencies, there is a slide (sluice gate) outlet gate in place, but the Emergency Action Plan (EAP) status is unclear.

Overall, Valana K Reservoir No. 1 serves as a vital water source for the community, offering recreational opportunities while also raising concerns about its safety and maintenance. Water resource and climate enthusiasts will find this reservoir a subject of interest due to its historical significance and the ongoing efforts to manage its risk potential and ensure public safety.