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<br />STA TE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303)866-3441 <br />FAX: (303) 866-4474 <br /> <br />Memorandum <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Tim Feehan, P.E., Project Manager <br />Mike Serlet, P .E., Chief, <br />Water Supply Planning and Finance Section <br /> <br />DATE: November 1, 2005 <br /> <br />SUBJECT: Agenda Item No, 24a, November 15-16, 2005, Board Meeting <br />Water Supply Planning and Finance - Changes to Existing Loans <br />Buffalo Farms Water Development, LLC <br />Well Augmentation/Recharge Project <br /> <br /> <br />Bill Owens I <br />Governor I <br />I <br />Russell Geo~ge <br />Executive Dfector <br />I <br />Rod Kuhari~ <br />CWCB Dir1tor <br /> <br />Rick Brown I <br />Acting Deprlty <br />Director I <br /> <br />INTRODUCTION <br />Buffalo Farms Water Development is requesting an increase of$81,810 to their November 2001. <br />authorization of$195,435 for the Buffalo Farms Augmentation Plan. The requested loan <br />increase is due to cost overruns and price increases incurred during construction ofthe project. I <br />I <br />BACKGROUND 1 <br />At the November 2004 board meeting, the Colorado Water Conservation Board approved a loan tOI <br />Buffalo Farms in the amount of$195,435, from the Severance Tax Trust Fund. The $195,435 loaf <br />authorization was for the construction ofthe Buffalo Farm Augmentation Plan, consisting of 1 I <br />recharge well, 6,000 linear feet of 18-inch PVC Pipe, connecting into 4 existing augmentation ! <br />wells, a highway bore, and 3 recharge ponds. i <br />I <br />I <br />The Buffalo Farm Augmentation Project is located in Logan County, approximately 1.5 miles from <br />Merino. The Company is a recently formed entity consisting of neighboring farmers who own anf <br />operate a contiguous group of farms in northeastern Colorado. The Company is a consortium of 31 <br />separate ownership groups, each owning 1/3 interest in the new Company and the augmentation , <br />project. A 1/3 interest is currently held by D. Kevin Vollmer, and a 1/3 interest by Michael Gros~, <br />The remaining 1/3 interest is held by 5 separate entities known collectively as the Merino Properti~s <br />Group, represented by Mark Kross. I <br />I <br />, <br /> <br />Brent Nation, P.E., of Nation Engineering Services, Fort Morgan, Colorado, completed the <br />feasibility study for the project in October of2004. <br /> <br />1 <br />