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....., G-. ' \ .. Agenda Item 290 November 4, 1994 2 Mr. Thiebaud now would like to rehabilitate the dam to solve the safety concerns, and enlarge the dam to its decreed size of 85 acre feet. DISCUSSION This project will place the owner's full water right to beneficial use. This would amount to an additional 50 acre feet of storage over the originally constructed size of 35 acre feet. It would also amount to an additional 64 acre feet of storage over the safe storage volume of 21 acre feet recommended by the State Engineer. Because of the small size of this project, the Staff has not required a formal feasibility study. Instead, the staff is addressing the feasibility of the project, and will produce a summary report for the November board meeting. Enlargement of the Eureka Dam #1 will require that plans and specifications be approved by the State Engineer, and that the project be completed under the supervision of an engineer registered in the State of Colorado. (Staff will be visiting with Mr. Thiebaud on October 20,1994 to discuss the project and to get an update on the estimated total cost.) STAFF RECOMMENDATION (as mailed to Board members) The staff recommends: 1. That a construction fund loan in an amount of $ be approved for Melvin L. Thiebaud, a private individual, for the rehabilitation and enlargement of the Eureka Dam #1, (Note: The exact amount of the loan request will be provided at or before the November CWCB board meeting), and 2. That loan approval shall be contingent upon Mr. Thiebaud providing an engineering cost estimate, and plans and specifications upon which the estimate is based, and 3. That the fmancing terms shall be 5.5% annual percentage rate, for a duration of 30 years, and 4. That loan approval shall be contingent upon staff evaluation of Mr. Thiebaud's fmancial condition and ability to pay, and upon all standard contracting provisions of the CWCB.