North Platte 04.24.07Minutes - Laserfiche WebLink

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North Platte Basin Roundtable Meeting Minutes, April 24, 2007 2 Low interest loans for raw water projects, from 2 funding sources (1971 construction fund, 1977 severance tax trust fund). CWCB runs through 30 to 40 million dollars worth of projects annually, but they are searching for larger projects since they have about 50-80 million dollars available. Kirk explained how the severance tax revenue fund is broken up into CWCB water project loans [DOLA (50%), DNR (25%), and CWCB (25%)]. He also explained which projects are eligible projects: including reservoirs, dam rehabilitation, water supply systems, water rights acquisition. Reservoirs dominate current projects, and their current projects total 140 million dollars. Currently the CWCB have little to no projects in the North Platte Basin, but Kirk said the CWCB is trying actively pursue projects for this basin. He explained the loan approval process: [Minimum loan is $50,000 (Kirk thinks this is too low), project financing covers up to 90% of total project costs (including engineering), maximum loan term is 30 years. Interest rates = Agricultural- 2.5%, Municipal 3.25%-4.25%, Commercial: 5.25%. They require a one million dollar insurance policy during the life of the loan]. The loan approval schedule (for loans under 5 million dollars) is as follows: Allow five months for loan approval and loan contracting. [Loans over 5 million have to be approved by the legislature and signed by the governor, and may take over a year to complete the approval process]. The limit may be raised in the near future to include 10 million dollar loans before they have to be approved by the legislature. The loan billing process and payment schedule is as follows: the borrower needs a feasibility study, including the need for the project, ability to repay, technical feasibility, etc. There are examples on the CWCB website. Kirk explained CWCB grant programs: there are eight different types, and they also have grant money for large feasibility studies. Dirk Ramsey asked about projects of this type for small reservoirs. Kirk answered that it depends on how important the reservoir may be to the basin. Kirk said if there are questions to call him and he could answer further on that matter. Kirk opened the floor for questions. -Dina Bennett asked if the grants require matching funds. Kirk answered that it depends on the grant. Some have been approved without matching. -Rick Wyatt asked where grants for research are placed. Kirk said under non- reimbursable project investment grants, and grants for projects /studies of statewide impact or importance, and demonstration projects. If there's a benefit to the state, they have a better chance of getting recommended. -Carl Trick II asked Kirk to talk about the relationship between CWCB and IBCC. Kirk said that he can only explain how it impacts his world (not the upper crust of the CWCB), but he did mention that the IBCC has been a gift to this program (CWCB loan program)