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<br />COLORADO WATER CONSERVATION BOARD (CWCB) <br />CONSTRUCTION FUND LOANS <br /> <br />CWCB Mission <br />To promote the protection, conservation, and <br />development of Colorado's water resources <br />for present and future generations. <br /> <br />Purpose of Program <br />The CWCB Construction Fund Program <br />provides loans for Raw Water Supply <br />Projects. <br /> <br />Eligible Projects <br />'" Reservoirs - new raw water storage or <br />enlargement of existing reservoirs. <br />'" Dam Rehabilitation - to meet safety <br />standards and recover restricted capacity. <br />'" Water Supply Systems - rehabilitate or <br />construct agricultural or municipal raw <br />water systems (diversion structures, <br />ditches, headgates, pipelines, wells, etc.) <br />'" Water Rights Acquisition - purchase must <br />satisfy existing need or shortage. <br /> <br />A Loan Feasibility Study is required. Study <br />shall include technical, financial, and <br />institutional feasibility of the project. <br />Feasibility Study examples are available. <br /> <br />Project Financing <br />"Standard" terms and conditions of CWCB <br />Construction Fund low-interest loans: <br /> <br />(1) Loans are available for up to 90 Percent <br />of the total engineering and construction <br />costs of the proj ect. <br /> <br />(2) Loan term: up to 30 years <br /> <br />(3) Year 05/06 Interest Rates (30-year term): <br /> <br />Agricultural 2.5 % <br /> <br />Municipal 3.25% - 3.75 % - 4.25% <br /> <br />Commercial 5.25 % <br /> <br />(Rates reduce by 0.25% for 20-year loans, <br />and by 0.5% for lO-year loans.) <br /> <br />* 1.0% loan service fee will be applied. <br /> <br />Fact Sheet 2005 <br /> <br />Conditions <br />The following conditions apply: <br />(1) The borrower must have the legal <br />authority and financial capacity to <br />repay the loan. <br /> <br />(2) The borrower must provide adequate <br />security . <br /> <br />Loan Application Procedure <br />The applicant must complete and submit a <br />Construction Fund Loan Application. <br /> <br />The CWCB staff will meet with the applicant <br />to discuss the loan application, any planning <br />or engineering work that has already been <br />completed or is underway, and the loan <br />application process. <br /> <br />The application deadline for loans greater <br />than $5 million is August 31 of the current <br />year, in order to receive funds by the <br />following June. <br /> <br />Applications for loans up to $5 million are <br />accepted at any time. Allow about 4-5 months <br />for loan approval and completion of the loan <br />contract. <br /> <br />FOR MORE INFORMATION CONTACT <br /> <br />Kirk Russell, P.E., Marketing <br />(303) 866-3449 or kirk.russell(Q)state.co.us <br />or <br />Bruce Johnson, P.E., Loan Feasibility <br />(303) 866-3428 or bruce.iohnson(Q)state.co.us <br /> <br />Colorado Water Conservation Board <br />1580 Logan S1., Suite 750 <br />Denver, CO 80203 <br /> <br />Notes <br />