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<br />t <br /> <br />." <br /> <br />~ <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF COLOMDO <br />~ <br />'W <br /> <br />Roy Romer <br />Governol <br /> <br />J~mes s. Lochhe~d <br />Execullve DireClor, DNR <br /> <br />D~ries C. Lile, PE. <br />Director, eweB <br /> <br />TO: <br /> <br />Colorado Water conwation Board Members <br /> <br />Bill Green, P .E. ~ <br />Project Planning and Construction Section <br /> <br />FROM: <br /> <br />DATE: <br /> <br />January 21, 1997 <br /> <br />SUBJECT: <br /> <br />Agenda Item 5.a. , January 29-30, 1997 Board Meeting - Water Project <br />Construction Loan Program - Modifications to Previous Loan <br />Authorizations - Eagle Park Reservoir Co. - Eagle Park Reservoir Rehab. <br /> <br />INTRODUCTION <br /> <br />This memorandum presents the final staff analysis and recommendation with regard to the <br />requested $8.5 million in Construction FWld financing for the Eagle Park Reservoir Project. The <br />applicant is the Eagle Park Reservoir Company which includes: Eagle County, the Eagle River <br />Water & Sanitation District, the Upper Eagle Regional Water Authority, and Vail Associates. <br />This memo will focus on those issues whieh were raised by the Board at the November 25, 1996 <br />Board meeting. <br /> <br />BACKGROUND <br /> <br />For backgroWld information on the Eagle Park Reservoir Project please refer to my <br />memorandums to the Board for January 1996 (Agenda Item 10.a.) and for November 1996 <br />(Agenda Item 9.a.). A one-page Project Summary is attached to this memo. <br /> <br />At the January 1996 Board meeting, the Board gave conditional approval to a 30-year <br />Construction Fund loan for $3,125,000 for the purchase ofthe reservoir site from Cyprus Climax <br />Metals Company by the applicants. This amount was included in SB 96-153. At the November <br />1996 Board meeting, the applicants requested an additional loan authorization for $5,375,000 for <br />a total and final amount of $8,500,000 in Construction Fund financing for the project. <br />