10 ‎(3)‎

• Board Meeting Date: 1/22/2008
• Description: CF Section - Loan Deferral Request - Bill Porter Reservoir - Reservoir Construction Project
• Board Meetings - Doc Type: Memo

STATE OF COLORADO

Colorado Water Conservation Board
Department of Natural Resources
1313 Shennan Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
\\v/\v. c\vcb.state. co. us

TO:

Colorado \Vater Conservation Board Members

Bill Ritter, Jr.
GovelTIOr

FROM:

Tim Feehan, P.E., Project Manager
Mike Serlet, P.E., Chief
Water Supply Planning and Finance Section

Harris D. Sherman
DNR Executive Director

Jennifer L. Gimbel
CWCB Director

DATE:

January 14, 2008

Dan McAuliffe
CWCB Deputy Director

SUBJECT:

Agenda Item 10, January 22-23, 2008 Boa.'d Meeting
Water Supply Planning and Finance Section - Loan Defe....al Request
Bill Porter Reservoir - Reservoir Construction Project

Introd uction

]\frs. Marla Porter is requesting a loan payment deferral for Loan Contract No. C150116 between
Bill Porter (her late husband) and CWCB, dated November 1, 2002. By letter to Steven Biondo,
CWCB, dated December 28, 2007 (copy attached), Dan Kerst, P. c., Personal Legal Representative
for the Estate of Bill Porter and for Marla Porter, has requested that the principal portion of the
January 2008 payment be deferred for one year and that the annual loan payment amount remain the
same for the remaining term of the loan.

Backg.'ound

Bill Porter was a 19% owner in the 3,600 acre Alkali Creek Ranch, located in Garfield County.
Barton Porter Reservoir is located on the ranch, which allowed Mr. Porter to irrigate
approximately 900 acres. The reservoir is filled through ditch diversions from South Canyon,
Three Mile, and Garfield Creeks, which are tributaries to the Colorado River. Barton Porter
Reservoir was constructed in 1958, to a height of 43-feet, impounding 206 acre-feet.

At its September 2002 meeting, CWCB approved a $1,000,000 loan at 2.5% for 20 years to Bill
Porter for a $2,000,000 project to expand the capacity of the reservoir to 1,100 acre-feet,
requiring the reconstruction of both the east and west dams, with the west dam being at
maximum height of 83.5 feet. Reconstruction of the dam allowed him to utilize their full 1,000
acre-feet of conditional storage rights. Bill Porter completed the dam improvements in
November 2003, which was inspected and approved by the State Engineer's Office. The
reservoir was filled in spring 2004 and has been in operation for the past three irrigation seasons.

'Vatu Supply Pl'otection . 'Yatel'shed Protection & Flood Mitigation' Stream & Lake Pl'otection . 'Yatel' Supply Planning & Finance
'Yatet. Conset'vation & Dt'ought Planning' Intt'astate Watu Management & Development