PROJ02023

• Contract/PO #: FS0044FX
• Contractor Name: Larimer County, Board of County Commissioners
• Contract Type: Miscellaneous
• Water District: 0
• Loan Projects - Doc Type: Approval Letter

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Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building
1313 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

STATE OF COLORADO

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MEMORANDUM

Roy Romer
Governor

To: Colorado Water Conservation Board Members

From: Larry Lang L-I~'-

Date: November 18, 1996

Re: Agenda Item 9.b., November 25-26, 1996, Board Meeting
City of Fort Collins - Dry Creek Flood Control Project

James S. Lochhead
Execulive Director. DNR

Daries C Lile. P.E.
Diredor. eWeB

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BACKGROUND
In 1995, the City of Fort Collins (City), in cooperation with Larimer County (County), submitted an
application for funding for the "Dry Creek Flood Control Project" in the amount of $600,000 _ (see CWCB
memorandum dated October 31, 1995 - Agenda Item 18k for details regarding the 1995 plan and request).
The Board approved the 1995 application and the Colorado legislature authorized and funded the project
from the Board's Construction Fund as a Floodplain Project in the 1996 session. The loan was at an interest
rate of 4.25% for a term of30-years, with a loan amount of $500,000. The Board's recommendation for
Fort Collins was reduced by the legislature to fund additional floodplain project requests which were added
to S.B. 96-153. The City and County made a second request to the CWCB for project funding with a 1996
application.

REQUEST
In 1996, the City of Fort Collins (City) and Larimer County (County) made a second request in the amount
of $600,000. The City and County request has no change in the project plan for the 1996 project
application.

DISCUSSION
The scope and plan for the Dry Creek Foodplain Project is still the same as the 1995 plan. The project's
application, description, benefits and costs, and features remain the same as the 1996 project authorization.
The only change in the City and County application is the total requested amount of CWCB' s construction
fund participation in the project which is $1.1 million.

1996 SUPPLEMENTAL REQUEST
The City and the County requested a supplement to the 1995 loan approval to assist in completing the
financing package for the project. The total cost is estimated at $2.85 million dollars including an additional
$350,000 for advance project planning. The financial package for the project is:

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· 1995/96 loan approval
· 1996/97 loan request
· Local Improvement District (bond)
· Basin Fund Account (cash)

$ 500,000
600,000
1,400,000
350,000*

TOTAL

$2,850,000