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<br />Stratus Consulting <br /> <br />Existing Funding Sources <br /> <br />loans up to 30 years. Loans for communities that do not qualify for the disadvantaged <br />communities loan program still receive below market interest rates and loan terms up to 20 years. <br />This type of loan had an interest rate ranging from 3% to 4% in 2006, depending on the funding <br />sources used for the loan (State of Colorado, 2007). <br /> <br />The SDWRF loan application process has several steps; these can take up to a year and a half <br />from beginning of the preliminary engineering report to loan approval and beginning of <br />construction. Those steps involve completion of an eligibility assessment, completion of an <br />engineering planning document, public participation requirements, publication and approval of <br />an environmental assessment for most projects, a review and approval ofTMF capabilities of the <br />water system, submission of the loan application, approval by the CWRPDA Board of Directors, <br />approval of plans and specifications, and compliance with applicable federal requirements. <br /> <br />PNPWSs also are excluded from other programs besides the SDWRF. The Energy and Mineral <br />Impact Assistance Grant and Loan Program administered by DOLA, for instance, has been an <br />important source of grant money for local governments. This fund is set aside to assist <br />communities in coping with the growth and decline of the energy and mineral industries in <br />Colorado. The money from severance tax and royalties has been increasing recently as energy <br />and mineral development has increased in the state. Fifty-two water projects totaling more than <br />$11.6 million were awarded in 2006 along with 44 wastewater projects totaling more than <br />$10 million (Colorado DOLA, 2007). Eligible projects are not limited to water and sewer <br />projects. <br /> <br />3.2 Which Funding Sources Currently Serve Private Nonprofit <br />Water Systems? <br /> <br />The current funding providers that are able to serve private nonprofits include CDPHE's <br />Drinking Water Grant Program, USDA Rural Development, RCAC, CWCB, and the Water <br />Supply Reserve Account (WSRA). Each of the funding sources for which PNPWSs are eligible <br />has its own unique funding niche. This section reviews those existing funding sources and their <br />niches. <br /> <br />CDPHE has a Drinking Water Grant Program. The types of systems eligible for the grants under <br />this program are governmental entities, counties on behalf of unincorporated areas, and <br />PNPWSs. The program was created in 1999, but so far has received funding from the legislature <br />only in 2001 and 2006. In 2006, $3 million in total funding was made available - $1.5 million <br />for each side of the drinking water and wastewater grant program. Total demand for grants, as <br />shown by the project eligibility list in 2007, was approximately $398.22 million, with <br />$32.47 million of that from PNPWSs and $365.75 million from governmental entities. <br /> <br />Page 3-3 <br />SCll199 <br />