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C150161 Approval Letter
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C150161 Approval Letter
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Last modified
8/10/2011 10:01:23 AM
Creation date
3/26/2007 10:44:28 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150161
Contractor Name
Greeley and Loveland Irrigation Company
Contract Type
Loan
Water District
4
County
Larimer
Loan Projects - Doc Type
Approval Letter
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<br />Greeley and Loveland Irrigation Company - Boyd Lake Spillway <br />November 19-21, 2003 <br /> <br />Agenda Item 8d <br /> <br />Boyd Lake spillway, as well as Horseshoe Lake spillway, as both reservoirs basically operate <br />together as a system. GLlC and SLlC have been working diligently with the State Engineer's Office <br />(SEO) over the past several years to determine the scope of necessary spillway improvements. <br /> <br />Boyd Lake is the largest reservoir in the GLlC system, with a surface area of 1,750 acres and a <br />capacity of 48,874 acre-feet. The dam is a Class 1 embankment dam and has a height of 40 feet, <br />a crest length of 10,729 feet. Colorado State Parks has recreational surface rights to Boyd Lake. <br />The current spillway is considered to be a natural swale, located near the pump house in the east <br />side of the dam embankment, with an approximate spillway width of 20 feet. The spillway is <br />considered abandoned and is no longer operable or capable of conveying any storm flows. The <br />SEO requires that Class I dams contain spillways capable of safely passing 75% of the Probable <br />Maximum Precipitation (PMP) storm event. Even if it were operable, the existing spillway could <br />only safely pass approximately 16% of the PMP storm event. The reservoir is not presently under <br />SEO restriction, however, a 1999 deadline was imposed to demonstrate that the existing dam <br />configuration meets Colorado dam safety guidelines. While overdue on this date, hydrologic <br />assessments have been ongoing. The SEO has not imposed restrictions, as the GLlC has been <br />proactively pursuing a design for the spillway. Recently, GLlC and the SEO have reached <br />agreement on a site-specific PMP reduction to be accepted for spillway design, allowing the Boyd <br />Lake project to move forward. Improvements to Horseshoe Lake spillway are not anticipated at this <br />time, pending final SEO hydrology review, and provided agreement can be reached between SLlC, <br />State Parks and Larimer County regarding overflows of County Road 11 C between the reservoirs. <br /> <br />At the January 2003 CWCB meeting, the Board approved a loan to GLlC for $1,000,000,'to perform <br />rehabilitation work (not State-mandated) on the low-level outlet structure at Boyd Lake, to take <br />advantage of low lake levels. In March 2003, CWCB staff received a letter from the GLlC <br />indicating that their Board was declining the loan for the low-level outlet project. The anticipated <br />Federal grant funding for State-mandated spillway improvements was not forthcoming, forcing GLlC <br />to reconsider their priorities. The GLlC Board of Directors elected to address the spillway issue <br />first, and indicated that they would apply for a CWCB loan for the spillway work. <br /> <br />Feasibilitv Studies <br /> <br />The GLlC, through their engineer Boyle Engineering Corporation, has completed a feasibility study <br />in accordance with CWCB guidelines. The study includes an assessment of spillway alternatives to <br />meet the requirement of safely passing 75% of the Probable Maximum Precipitation (PMP) event. <br /> <br />Proiect SDonsor <br /> <br />The GLlC is a Colorado mutual ditch company and non-profit corporation registered in the State of <br />Colorado, in good standing. The Company was incorporated in 1900. There are 170 shareholders <br />holding 1644 shares of stock. The GLlC exists in perpetuity and sets annual assessments that are <br />assigned to the stockholders according to the number of shares they own. The Board of Directors <br />has the authority to incur debt as they deem necessary to carry out the purposes of the company, <br />and to pledge assets of the company to secure repayment of loans. It also holds the power to <br />refuse to deliver water to shareholders who fail to pay their assessments, and the power to take <br />legal action against delinquent stockholders, and offer forfeited shares for sale to pay for unpaid <br />assessments. Revenues are derived principally from stock assessments, running charges, and <br />small amounts of revenue coming from leasing rights for recreational use of several reservoirs. <br />Of the 1644 shares of stock there are 781.65 shares in agricultural ownership (47.6%) and 862.35 <br />shares in municipal ownership (52.4%) - Greeley (760.51 shares) and Evans (101.84 shares). <br /> <br />Page 2 of 7 <br />
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