30-40 gallons??
If you want to keep your IC and save water, then it isn't too hard to set it up where it can recirculate. I don't use hose fittings for my IC, just a submersible pump and a cooler (or any vessel to hold water) full of water that it sits in.
The end goal is to recirculate chilled water through the IC, and back into the cooler where it is pumped through again. However, since the water coming out of the IC is so hot it is wise to not start recirculating right away.
What I do initially is pump water through the chiller while I have a hose refilling the cooler at the same time. Water coming out of the chiller is pumped directly into my HLT Keggle. Throw some PBW or Oxyclean in there, and since the water coming out is so hot I have my cleaning solution already mixing.
Keep checking the water coming out of the IC, and once it has cooled down just stick the outflow hose back in the cooler where the pump is and turn the hose off. Then add ice.
The best way to do this is to bag ice yourself the week leading up to brew-day if you have room in the freezer. I used bagged ice, some people use frozen water bottles, but the idea is to create an ice bath in the cooler so that cold water is going through your IC to get you down to your pitching temp.
What I do is have 2 separate coolers. The first one with the hose feeding water to it, and the other where I already have ice soaking in water. Once the water coming out of the chiller is cool enough where it won't start instantly melting the ice I just take the pump out of the first cooler and put it in the 2nd with the ice cold water, then I start recirculating the water coming out of the IC back into that cooler.
You don't have to have two separate sources of water since you can just start throwing ice in your first one. But I like pre-chilling the water in a separate vessel before hand so that it will already be chilled once I start recirculating.
Since you're in Denver your ground water temp is probably a lot lower than mine here in Florida so you would be able to start your re-circulation even sooner