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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 866-4474 <br />www. cwcb. state. co. us <br />MEMORANDUM <br />(REVISED) <br />TO: Colorado Water Conservation Board Members <br />FROM: Kirk Russell, P.E. <br />Mike Serlet, P.E., Chief ~~~/ <br />Water Supply Planning and finance Section <br />DATE: January 17, 2006 (Revised January 31, 2006) <br />Bill Owens <br />Governor <br />Russell George <br />Executive Director <br />Rod Kuharich <br />CWCB Director <br />Rick Brown <br />Acting Deputy <br />Director <br />SUBJECT: Agenda Item 19a, January 24-25, 2006 Board Meeting <br />Water Supply Planning and Finance Section -Change to Existing Loan <br />Mancos Valley Beaver Ditch Company -Ditch Pipeline Project <br />The Mancos Valley Beaver Ditch Company (Company) is requesting an increase to CWCB's funding <br />limit of CWCB Loan (Contract #C150185). This requested increase is from $413,000 (approved <br />September 14, 2004) to $904,750 (100% of current Project cost estimate per CWCB Policy). This <br />increase is a result of an error in the original Project scope. The Project length and alignment will <br />remain nearly the same as the previously approved loan; however, the pipe size has been increased. <br />The Company will receive in-kind engineering services and a grant from NRCS for 75 percent of the <br />NRCS established unit prices. The remaining 25 percent of the construction cost will become a 30-year <br />CWCB loan. <br />Financial Analysis <br />Table 1 shows a summary of the funding sources for the project. The Company will receive a 75 <br />percent construction grant from NRCS totaling $678,562. <br />Table 1. Project Funding Sources <br />Entity Initial <br />Loan Grant Post-Construction <br />Loan <br />CWCB $904, 750 $0 $226,188 <br />NRCS $0 $678,562* $0 <br />Company $0 $0 $0 <br />Totals $904, 750 $678, 562 $226,188 <br />* Received after construction is complete from NRCS Salinity Control Project. <br />Flood Protection • Water Supply Planning and Finance • Stream and Lake Protection <br />Water Supply Protection • Conservation and Drought Planning <br />