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<br />3. <br /> <br />A preliminary design for the project should be completed in enough detail to demonstrate: <br />how the project will operate, that the design is adequate to meet the project purpose(s), <br />and to develop a preliminary cost estimate. <br /> <br />. <br /> <br />4. The institutional requirements should be outlined in terms of permits required, contracts <br />and agreements that have to be executed and court actions required for project <br />implementation. <br /> <br />5. What are the expected social, economic, and environmental impacts of the project? <br /> <br />6. The sources of financing for both one-time expenditures, such as property acquisition and <br />construction, as well as operation, maintenance and replacement costs should be <br />identified. What new sources of revenue (such as license fees) could be developed to <br />help offset the cost of the project? <br /> <br />7. What are the expected benefits of the project to the State of Colorado? <br /> <br />DISCUSSION <br /> <br />As a matter of fiduciary responsibility, we believe that grant requests such as this one should be <br />subject to the same degree of scrutiny as requests for Construction Fund loans which are repaid <br />to the Fund with interest. The grant request should, as a minimum, provide documentation of . <br />need for the project, a detailed project description, a cost estimate, and a summary of the <br />expected benefits of the proposed project. <br /> <br />RECOMMENDATIONS <br /> <br />We recommend that the Board consider the following conditions for the $2.0 million non- <br />reimbursable grant for a native aquatic species facility as recommended at the November 1996 <br />Board meeting for inclusion in the 1997 Construction Fund bill: <br /> <br />1. The Division of Wildlife staff will prepare a detailed proposal to respond to the <br />questions and concerns as outlined in items 1. through 7. above, <br /> <br />2. The CWCB staff will have the opportunity to review any property appraisals submitted in <br />connection with any project to be funded under this grant to assure that funds are being <br />properly disbursed in accordance with the State of Colorado Fiscal Rules, <br /> <br />3. That specific information be provided by the Division of Wildlife staff to the CWCB staff to <br />indicate the cost sharing arrangements being proposed for this facility with respect to both <br />capital and operating costs, and <br /> <br />4. The CWCB staffwill report to the Board on each of these items at a future Board meeting and <br />before any funds are disbursed. <br /> <br />L:\boardmem\jan7\ 14a.doc <br /> <br />. <br />