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not benefit from increased consumptive use resulting from a loaned water right be changed from a water right located "downstream" to a water right located in the same stream basin. The motion was approved (6-4). 8f. CWCB Legislative Priorities and Recommendations -Colorado Community Forest Restoration Grant Program Tape 4, Track 1 Ol :23:14 - Ol :31:27 Action: A motion was made by Eric Wilkinson and seconded by Don Schwindt to approve Staff recommendation that the Board, by motion, withdraw its action of November 15, 2007 regarding Item 24a. and Staff s revised recommendation there considered and adopted to fund the Colorado Community Forest Restoration Grant Program via a budget amendment to the FY08-09 DNR budget request. The motion was amended to include "support for the concept that Forest Restoration, because of its benefits to watershed health and that because of communications the Boazd has received in regaY•d to the need for the appropriation, seek appropriate funding through alternate means: ' Ilarris Sherman and Barbara Biggs were not present for this motion. The motion was approved unanimously (8-0). 8g. CWCB Legislative Priorities and Recommendations -Other Legislative Matters Tape 4, Track 1 01:31:29 - 01:38:58 Action: A motion was made by Don Schwindt and seconded by Geoff Blakeslee to show Board support of SB36. Barbara Biggs was not present for this motion. The motion was approved unanimously (9-0). 9a. Water Supply Planning and Finance Section -Estimate of Funds Available for New Projects, - Construction Fund Action: Information item onl , no action uired Y ~1 9b. Water Supply Planning and Finance Section -Estimate of Funds Available for New Projects - Severance Tax Trust Fund Perpetual Base Account Action: Information item only, no action required 10. Water Supply Planning and Finance Section -Loan Deferral Request -Bill Porter Reservon~ - Reservoir Construction Project Action: A motion was made by Carl Trick and seconded by Eric Willcinson to approve Staff recommendation that the Board approve the request to defer the principal portion of the January 2008 annual loan payment; to continue the January 2009 annual loan payment in the amount of $64,147.13; and to allow the repayment term to extend one year providing maturity of the loan in January :2025. The Promissory Note and respective amendment should be completed for Loan Contract No. C 150116 to reflect the revised conditions herein stated and approved. This deferral is based an CWCB's fording that the Porter Estate and Marla Porter have encountered significant hazdship and unexpected financial difficulties, and that they have been duly diligent in their efforts to comply with the repayment provision of Bill Porter's loan contract with CWCB. The motion was approved unanimously (10-0). 11 a. Water Supply Planning and Finance Section -Construction Fund and Severance Tax Trust Fund Perpetual Base Account -New Loans - Pagosa Area Water & Sanitation District -- Dry Gulch Reservoir Project Land Purchase Action: A motion was made by Don Schwindt and seconded by Carl Trick to approve Staff recommendation that the Boazd approve a loan not to exceed $11,217,060 ($11,106,000 II for project costs and $111,060 for the 1% Loan Service Fee) to the Pagosa Area Water & Sanitation Distract acting by and through its Enterprise far project costs associated Frith the land acquisition for the future Dry Gulch Reservoir site from the CWCB Constn~ction