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<br />- 2- <br /> <br />Discussion <br /> <br />As of November of this year, there are four authorizations for loan funding that are three. <br />years or more past the date of authorization and are not yet under contract. There is also one project <br />that is not past the three-year deadline, however the project sponsors are no longer interested in <br />moving forward with a loan from the CWCR Staff has evaluated each of the authorizations and <br />discussed the status of the projects with the project sponsors and their consultants. The results of these <br />evaluations along with the staff recommendations relative to de-authorization and extending project <br />time limits are summarized in the following: <br /> <br />a. Supply Irrigating Ditch Company - Knoth Reservoir Dam Enlargement Proiect - The <br />CWCB approved a March 26, 2003 Construction Fund project loan of $1,000,000 to the <br />Supply lITigating Ditch Company for -the rehabilitation and enlargement of the Knoth <br />Reservoir Dam. We have received a letter from the company (attached) stating that due <br />to on-going unresolved technical issues the project has been delayed, but the Company <br />requests that the loan authorization be extended for another year. Staff recommends that <br />the Board consider extending the authorization of this loan for one year. <br /> <br />b. FL Gill H20 LLC - Groundwater Recharge and Well Augmentation Proiect - The <br />CWCB approved a March 17, 2004 Severance Tax Trust Fund Perpetual Base Account <br />project loan of $115,898 to the FL Gill H20 LLC to construct a groundwater recharge / <br />well augmentation project and purchase water rights. We have received a letter <br />(attached) from the LLC stating that they are no longer interested in pursuing the project <br />with CWCB funds at this time. Staff recommends that the Board consider de-authorization :. <br />of this loan. <br /> <br />c. Ryan Gulch Reservoir Cornpanv - Ryan Gulch Reservoir Dam Rehabilitation Proiect - <br />The CWCB authorized (1/29/1999), and the State Legislature approved a Construction <br />Fund project loan of $317,500 to the Ryan Gulch Reservoir Company in SB 99-173 for <br />the construction of a new spillway on the Ryan Gulch Darn. We have received a letter <br />(attached) from the company stating that they have obtained alternate financing and are <br />no longer interested in contracting for this cWCB loan. Staff recommends that the Board <br />consider de-authorization of this loan. <br /> <br />d. Tilton Lateral. Inc. - Tilton Lateral Rehabilitation Proiect - The CWCB approved a May <br />21, 2001 Construction Fund project loan of $100,000 for the rehabilitation of the Tilton <br />Lateral, off of the Grand Valley Irrigation Company mainline canal, by replacing the <br />ditch with a pressurized pipe system. The project costs have escalated to the point where <br />the company board of directors has decided not to continue pursuing the project at this <br />time (letter attached). Staff recommends that the Board consider de-authorization of this <br />loan. <br /> <br />e. <br /> <br />Town of Coal Creek - Water Rights Purchase - The CWCB approved a March 26,2003 <br />Construction Fund loan of $68,175 to the Town of Coal Creek to purchase municipal <br />water rights. We have received a letter (attached) from the Town stating that they are no <br />longer interested in contracting for this CWCB loan. Staff recommends that the Board <br />consider de-authorization of this loan. <br /> <br />~. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br /> <br />Water Supply Pn?tection. Conservation Planning <br />