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<br />" <br /> <br />STATE OF COLORAl3b <br /> <br />,/ <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone, (303) 866-3441 <br />FAX, (303) 866-4474 <br /> <br />~ <br /> <br />Bill Owens <br />Governor <br /> <br />March 24, 2000 <br /> <br />Greg E.Walchcr <br />Executive Director <br /> <br />Peter H. Evans <br />eWeB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />Mr. Joe Zimmerman, President <br />Woodchuck Ditch Company <br />42095 RCR 44 <br />Steamboat Springs; CO 80487 <br /> <br />RE: Reconstruction of Ditch Section <br />Small Project Loan Approval <br /> <br />Dear Mr, Zimmerman, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />approved your Small Project Loan request. We understand the loan will be used to <br />reconstruct a 400-foot section of the Company's ditch. <br /> <br />The Board approved a Small Project Loan from the Construction Fund in a maximum <br />amount of $40,000 with terms of 3.75% for 20 years, I have attached a copy of the <br />updated Board memo concerning the Woodchuck Ditch Company. Please refer to page 4 <br />of that memo and to the section "Action taken by the CWCB March 20, 2000," <br /> <br />When the Board approves a Small Project Loan there remain several conditions: <br /> <br />a) A Feasibility Study must be completed. Thank you for providing a draft of the study, <br />John Van Sciver will complete the study with input from you, John Fetcher, and the <br />NRCS, The CWCB has required that the study be finalized by April 30, 2000 in <br />accordance with the Construction Fund Guidelines, No loan funds can be released <br />until the study is complete. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IlIian has <br />contacted you concerning our contracting procedure. It usually takes about 2 months <br />to complete the contract once the Board has approved the loan. <br /> <br />c) You must adhere to the CWCB Des/on and Construction Administration Procedures. <br />Tim Feehan will contacted you regarding the CWCB requirements concerning project <br />design and construction. Tim will make construction inspections, which will be the <br />basis of the monthly pay estimates for disbursement of your loan funds. <br />