BOARD00105 ‎(2)‎

• Board Meeting Date: 1/23/2007
• Description: CF Section - New Project Loans - Seven Lakes Reservoir Co. - Dry Creek Railroad Crossing Rehabilitation
• Board Meetings - Doc Type: Memo

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STATE OF COLORADO

Colorado Water Conservation Board

Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]
www.cwcb.state.co.us

MEMORANDUM

Bill Ritter, Jr.
Governor

TO:

Colorado Water Conservation Board Members

Bruce Johnson, P.E. (P~_. 4
Mike Serlet, P.E., Chief
Water Supply Planning an Inance Section

Dan McAuliffe
Deputy Director

Harris D. Sherman
Executive Director

FROM:

Rod Kuharich
CWCB Director

DATE: January 12, 2007

SUBJECT: Agenda Item 9e, January 23-24, 2006 Board Meeting
Water Supply Planning and Finance Section - New Project Loans
Seven Lakes Reservoir Company - Dry Creek Railroad Crossing
Rehabilitation

Introduction

The Seven Lakes Reservoir Company (SLRC) is applying for a $765,190 loan from the Severance
Tax Trust Fund Perpetual Base Account to replace a deteriorating railroad crossing culvert over the
north outlet canal (also known as Dry Creek) from Lake Loveland. The estimated total cost of the
project is $850,210. Please see the attached Project Data Sheet.

Backaround

The Seven Lakes Reservoir Company (SLRC) and its sister company Greeley and Loveland
Irrigation Company (GLlC), own and operate an extensive system of reservoirs and canals in
the Loveland and Greeley area. GLlC owns 4 reservoirs (including Lake Loveland and Boyd
Lake) and SLRC owns 5 reservoirs (including Horseshoe Lake, immediately adjacent to Boyd
Lake.) SLRC does not have its own delivery system but relies on GLlC to carry its water to
shareholders. The two companies are so closely linked that they are considered one system for
water administration purposes. Both SLRC and GLlC have a long history of working together
and sharing facilities to efficiently serve their stockholders needs. The proposed Dry Creek
Railroad Crossing project involves only the SLRC, as the borrower. SLRC and GLlC water is
used primarily for the irrigation of 15,000 acres of agricultural lands in Larimer and Weld
counties, by way of the GLlC Canal. Over 50% of GLlC water is in municipal water use by the
Cities of Greeley and Evans. Over 60% of SLRC is in municipal water use by the Cities of
Greeley and Evans.

The GLlC/SLRC system is supplied by two river diversions located on the Big Thompson River,
the Big Barnes Ditch (3-miles long) which flows into Lake Loveland, and the Greeley & Loveland
Canal (4.5 miles long) which flows into Boyd Lake. SLRC use the Big Barnes Ditch to supply
water to its primary storage facility Horseshoe Reservoir. SLRC storage water is carried in the

Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection
Water Supply Protection. Conservation and Drought Planning