Laserfiche WebLink
<br />e <br /> <br />e <br /> <br />e <br /> <br />RECOMMENDATION <br /> <br />Staff recommends that the Board favorably consider a Construction Fund loan of$2,OOO,OOO to <br />the City of Loveland for the planning, design, and construction of the Green Ridge Glade <br />Reservoir Project. The tenn would be for 30 years and the lending rate would initially be set at <br />4.75 percent with the possibility of adjusting the rate, with the Board's approval, at such time as <br />the City can document potential agricultural water use from the reservoir. <br /> <br />The loan would be made subject to the following conditions: <br /> <br />1. No more than $50,000 or an amount not to exceed 50 percent of the actual study costs, <br />whichever is less, will be loaned for participation in the City's Phase ill feasibility study. <br /> <br />2. No additional funds over and above the Board's participation in the Phase ill feasibility study <br />costs will be lent to the City until the Phase ill study has been completed to the satisfaction of <br />the CWCB staff. <br /> <br />3. This loan will in no manner commit the Board to providing any further increments of financing <br />for the proposed project. <br /> <br />4. All standard contracting provisions of the CWCB. <br /> <br />(e <br /> <br />cc: <br /> <br />Ralph M~ City of Loveland <br />Larry Howard, City of Loveland <br />Linda Bassi, AGO <br />Mike Brod, Water & Power Authority <br /> <br />~~-'.v...... <br /> <br /> <br />Attachments <br /> <br />( " <br /> <br /> <br /> <br />1:\boardmem\jan97\jan8f.doc <br /> <br />/' <br /> <br /> <br />c:<::. ~ /, L~--(' c' i- ( <br /> <br />c:} <br /> <br /> <br />\,.e <br /> <br />5 <br />