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<br />. <br /> <br />. <br /> <br />STATE OF COLORADO <br /> <br />721 SlaIe Centennial Building <br />1313 Sherman Street <br />Denver. Colorado 80203 <br />Phone~303)666-3441 <br />FAX (303) &66-4474 <br /> <br />MEMORANDUM <br /> <br />o <br /> <br />COLORADO WATER CONSERVATION BOARD <br /> <br />Department of Natural Resources <br /> <br />(UPDATED 11/15/93) <br /> <br />Roy Romer <br />Governor <br /> <br />TO: <br /> <br />Members, CWCB <br /> <br />Danese. Ule. P.E <br />Director. eweB <br /> <br />FROM: John Van Sciver <br /> <br />DATE: November 5,1993 <br /> <br />SUBJECf: Agenda Item 9p-2, November 9-10,1993, Board Meeting-- <br />Town of Monument <br />Approval of a Constructiou Fund Loan in amount of $94,000 to Replace <br />Municipal Well #2. <br /> <br />BACKGROUND <br /> <br />The Town of Monument, located in El Paso County, has submitted an application <br />for a loan to replace their municipal well #2. They have requested $94,000 (4% for 30 <br />years) which is 63% of the total estimated project cost of $149,000. <br />Well #2 has been a sand producer and subsequently a continuing maintenance <br />problem for the Town, requiring pump replacement about every three years. The well has <br />been out of service since July 1992, and the repair estimate is about $18,000. The Town has <br />decided to replace the well instead of repairing it, and has obtained an Energy Impact grant <br />in amount of $55,000 to help fund the project. <br /> <br />DISCUSSION <br /> <br />Population growth estimates for the Town indicate that demand for municipal water <br />will continue to increase, requiring replacement of well #2. This well had a production of <br />about 13 million gallons per year before it went out of service. <br /> <br />The cost estimate for the project ( $149,000 ) was completed as part of the Energy <br />Impact grant process. <br /> <br />The CWCB staff has received information from the Town to allow evaluation of the <br />Town's financial condition and ability to pay. However, since over 1/3 of the cost will be <br />paid by Energy Impact grant, loan repayment is not expected to be a problem. <br />