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<br />'! <br /> <br />~----- <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 State Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone (303) 866-3441 <br />FAX (303) 866-4474 <br /> <br />STATE OF COL,ORADO <br /> <br />. <br /> <br />.. <br /> <br />Roy Romer <br />Governor <br /> <br />December 20, 1994 <br /> <br />James S. Lochhead <br />Executive Director, DNR <br /> <br />Daries C. Lile, P.E. <br />Director, CWCB <br /> <br />. Mr. John Norris <br />Town Manager <br />Town of Paonia <br />P.O. Box 460 <br />Paonia, CO 81428 <br /> <br />RE: Raw Water Storage Reservoirs <br />Initial Loan Approval <br /> <br />Dear Mr. Norris, <br /> <br />Concerning your application for a loan from the Construction Fund, I am pleased to inform you <br />that the Colorado Water Conservation Board (CWCB) has granted initial approval of your request <br />in the amount of $600,000 for the construction project. It is our understanding that these funds <br />will be used to rehabilitate existing raw water reservoirs, or to construct a new reservoir for raw <br />water storage for your Town. <br /> <br />The CWCB also approved a loan term of 30 years at an interest rate of 4.0%. I havc~ attached <br />a copy of the updated Board memo concerning the Town of Paonia. Please refer to page 3 of <br />that memo and to the section "Action Taken by the CWCB, November 4, 1994." Your <br />Construction loan will be considered by the State General Assembly as part of the 1995 <br />Construction Fund bill, with passage expected in May 1995. Funds will be available about July <br />1, 1995, provided we can negotiate a contract by that date. <br /> <br />The Board has given their initial approval subject to several conditions: <br /> <br />a. A Feasibility Study must be completed. The study should include an evaluation of the <br />alternatives the Town has considered, and state why the selected alternative was chosen. <br />Bill Green of this office (303-866-3441) is working directly with your engineer, Joanne <br />Fagan, and has sent her a letter dated November 16, 1994, a copy of which is attached. <br />Bill can provide assistance and guidance, and will ultimately be reviewing the study. <br /> <br />b. You should continue to pursue funding with the Colorado Water Resources and Power <br />Development Authority. Although it appears that the town does not qualify for bond <br />financing through the Authority, the town may qualify for a loan from the Domestic <br />Water Supply Project Revolving Fund. If youhave not already done so, you should <br />confirm with Barry Cress of the Division of Local Government (DLG) (303-866-2156), <br />or with the Authority itself, that the Town of Paonia is on the DLG needs list. This will <br /> <br />_J <br />