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<br />I..~ ' <br /> <br />,., <br /> <br />. <br /> <br />. <br /> <br />e <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br /> <br />721 Centennial Building <br />131 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br /> <br />STATE OF cOLORA.DO <br /> <br />. <br /> <br />Ruy Romer <br />CovernCJI <br /> <br />MEMORANDUM <br /> <br />Jemes S, lochheed <br />Executive DireClor, DNR <br /> <br />D,H1e, C. Lile, ~E <br />Director, elVlR <br /> <br />TO: Colorado Water Conservation Board Members <br /> <br />FROM: Bill Green, P.E. <br />Project Planning and Construction Section <br /> <br />DATE: November 22, 1996 <br /> <br />SUBJECT: Agenda Item 9,a" November 25-26,1996 Board Meeting - Water Project <br />Construction Loan Program - Requests for Approval for Revised Loans on <br />Approved Projects - Eagle Park Reservoir Co, - Eagle Park Reservoir <br />Rehabilitation <br /> <br />BACKGROUND <br /> <br />At the January 24-25, 1996 Board meeting, the Board gave conditional approval to a 30-year <br />Construction Fund loan of $3,125,000 to the Eagle Park Reservoir Company toward the purchase <br />of the Eagle Park Reservoir site from Cyprus Climax Metals Company (please see January 1996 <br />Agenda Item No. 1O.a.). The conditions of approval were: <br /> <br />(1) Thai the issue of the Statement of Opposition by the Authority and Vail <br />Associates to the Board's instream flow filing, Case No. 92CW286, on the 15- <br />mile reach of the Colorado River be resolved to the satisfaction of the Board, <br /> <br />(2) That a feasibility analysis be completed to the satisfaction of the CWCB staff, <br /> <br />(3) That this loan will in no way commit the Board to providing any further <br />financing for the proposed project, and <br /> <br />(4) That the loan will be subject to all standard contracting requirements of the <br />CWCB. <br /> <br />Subsequent to the January Board meeting, a number of developments have taken place with <br />regard to the project and additional information has been submitted by the applicants. By a letter <br />of November 5, 1996 the applicants are requesting an additional and final amount of $5,375,000 <br />