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<br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 8Q~03 <br />Phone: (303) 866.3441 <br />FAX, (303) 866-4474 <br />WVI/IN,cwcb.state .co. us <br /> <br />0500q ( <br />STATE OF COLORADO <br />Q <br /> <br />November 27,2001 <br /> <br />Bill Owens <br />Governor <br />Greg E. Walcher <br />Executive Director <br />Rod Kuharich <br />eWeB [)irector <br />Dan McAuliffe <br />Deputy Director <br /> <br />Mr. Dan Sherwood <br />Silver Springs Trout Farm, Inc <br />13221 Marine Road <br />Montrose, CO 81401 <br /> <br />RE: Hatchery Rehabilitation Project <br />Loan Recommendation <br /> <br />Dear Dan, <br /> <br />I am pleased to inform you that the Colorado Water Conservation Board (CWCB) has <br />recommended your loan to the General Assembly for approval. Your loan request will be <br />included in the Board's year 2002 Water Project Construction Bill. Loan funds will be <br />authorized in spring 2002, once the Governor has signed the bill. I understand the loan will <br />be used to rehabilitate the Silver Springs Trout Farm, and to refinance eligible costs <br />already paid for by the Company. <br /> <br />The Board approved a loan from the Construction Fund in a maximum amount of <br />$365,000. The loan terms are 2.5% for 15 years. I have attached a copy of the updated <br />Board memo concerning the Silver Springs Trout Farm/Sherwood Trust. Please refer to <br />page 4 of that memo and to the section "Action taken by the CWCB November 20,2001." <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) A Feasibilitv Studv is required, John Van Sciver of the CWCB Staff has completed a <br />study titled "Feasibility Study - Rehabilitation of the Silver Springs Trout Farm" dated <br />November 2001. The report meets the requirements of the CWCB Construction Fund <br />Guidelines for feasibility studies. Your engineering plans, which were reviewed as a <br />part of the feasibility study process, will be returned to you under separate cover. <br /> <br />b) An approved contract must be in place before funds can be advanced. Jan IlIian has <br />placed this project on our "hot list" and will initiate the loan contracting process with a <br />goal of having a signed contract in place by early summer 2002. Once the contract is <br />finalized you may request loan funds to cover eligible project expenditures, and to <br />refinance existing debt associated with the project. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />