18a ‎(3)‎

• Board Meeting Date: 3/18/2008
• Description: CF Section - New Project Loans - Loveland Lake and Ditch Company - Loveland Reservoir Inlet Improvements
• Board Meetings - Doc Type: Memo

Loveland Lake and Ditch Company
March 11, 2D08
Page 2 of 5
Agenda Item 18a
Prior to recent changes in land use, the Reservoir was kept full primarily from runoff from the fields
being flood irrigated to the north and west. Today this land is no longer being farmed. It is being
developed for residential and commercial use. With this change, the Company now relies
exclusively on its appropriations from the Big Thompson River to fill the Reservoir. Consequently,
when the Reservoir is in priority, it is important that the inlet capacity be increased so that the
Reservoir has a greater chance of filling.
In recent years the Reservoir has not been in priority to store water due to drought conditions. The
last year the Reservoir was in priority was 2005, and about 1,000 acre-feet were stored.
Loan Feasibility Study
The Loan Feasibility Study was prepared by Loveland Lake and Ditch Company President, Norman
(Greg) Carter Jr. with support from Jim Loonan, P.E., of Loonan and Associates. The study was
prepared in accordance with the CWCB guidelines and includes engineering design and cost
estimates along with an assessment of alternatives to address the inlet upgrade options.
Loveland Lake and Ditch Company
The Company is a mutual ditch company and anon-profit corporation registered in the State of
Colorado. There are 48 shareholders and 150 shares of stock. The Company shareholders have the
power to set annual assessments to be paid by the shareholders. The Company Directors, of which
there are five, have the power to cut off water deliveries to shareholders that fail to pay their
assessments, and the power to offer stock for sale to pay back assessments.
The Company provides irrigation water to a 500-acre service area in Larimer County. Irrigated
acreage within the service area is primarily used to grow hay or corn, or to supply raw water
irrigation systems for residential shareholders. Because 17 shares of the Company are held by
municipal interests and 133 shares are held by agricultural owners; a blended interest rate will be
used.
Water Rights
The source of water for the Company's storage rights is the Big Thompson River. There are three
storage rights with appropriation dates ranging from 1885 to 1905, and totaling 2,908 acre-feet.

Water Right Appropriation
Date Adjudication
Date Amount
(AF) Rate
(cfs) Administration
Number
Reservoir Storage 04/01/1885 04/01/31 561 50 2486.12875
Reservoir Stora e 09/15/1898 11/14/39 1870.3 250 29675.1779
Reservoir Stora e 12/04/05 11/14/39 476.9 250 29675.20426