BOARD00062 ‎(2)‎

• Board Meeting Date: 11/13/2006
• Description: CF Section - Construction Fund and Severance Tax Trust Fund Perpetual Base Account New Loans - Lazy O Ranch Homeowners Assoc - Secondary Water System
• Board Meetings - Doc Type: Memo

CWCS Construction Loan Program
Project Data Sheel

. Borrower: Lazy 0 Ranch Homeowners Assoc. County: Pitkin

Project Name: Secondary Water Supply System Project Type: Secondary Water System

Drainage Basin: Colorado River

Total Project Cosl: $152,258

Type of Borrower: Municipal (High Income)

Loan: $150,750

Water Source: Capitol Creek

Funding Sources: HOA, Bank Loan, ewes

Average Delivery: 13 acre.feet

Interest Rate: 4.25% Term: 30 years

The Lazy 0 Ranch Homeowners Association (LORHOA) is applying for a S152.258 loan to
constmct a secondary watcr system to provide outside irrigation watcr to 21 home sites within the
ranch. The LORHOA was fonned in 1987 and is located in Pitkin County. The ranch consists of
1.500 acres, 500 acres of dedicated agricultural land and 900 acres of dedicated wildlife
preservation. The remaining 100 acres of the ranch consists of21 home sites, ranging in size from 2
to 6 acres. Currently, 11 homes have been constnlctcd and all the other remaining home sites have
heen sold. Each property owner or shareholder owns an equal share oCthe ranch, to include the
1.400 acres of agricultural land and \vildlife preserve. The project consists of installing 7,500 feet of
2-inch to 6 inch pve pipe, 21 curb stop valves. and a 2- 10 horsepower variable speed pumps, with
pump house. at a total project cost of$167,500.

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