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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Shennan Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax: (303) 866-4474 <br />www.cwcb.state.co.us <br /> <br /> <br />March 20, 2008 <br /> <br />Bill Ritter, Jr. <br />Governor <br /> <br />Harris D. Shennan <br />DNR Executive Director <br /> <br />Mr. Norman (Greg) Carter <br />Loveland Lake and Ditch Company <br />P.O. Box 750 <br />Berthoud, Colorado 80513 <br /> <br />Jennifer L. Gimbel <br />CWCB Director <br /> <br />Dan McAuliffe <br />CWCB Deputy Director <br /> <br />RE: Loveland Reservoir Inlet Improvements <br />C150263 <br /> <br />Dear Mr. Carter: <br /> <br />I am pleased to inform you that on March 19th, 2008 the Colorado Water Conservation Board (CWCB) <br />approved your loan request for Loveland Reservoir Inlet Improvements. The Board approved a loan <br />not to exceed $106,050 ($105,000 for project costs and $1,050 for the 1 % Loan Service Fee) with <br />loan terms of2.20% per annum for 20 years. I have attached a copy of the updated Board memo that <br />includes the Board's approval. <br /> <br />When the Board approves a loan there remain several conditions: <br /> <br />a) Loan Feasibility Study: Anna Mauss has reviewed the study titled "Feasibility of <br />Upgrade of the Loveland Reservoir Inlet Structure, February 1, 2008". The approved <br />study, in combination with the CWCB Board Memo updated March 20, 2008, will meet <br />the requirements ofthe CWCB Water Project Loan Program Guidelines for loan <br />feasibility studies. <br /> <br />b) Contracting: An approved contract must be in place before funds can be disbursed. <br />Vaughn McWilliams will initiate the loan contracting process for this project. When all <br />of the contract conditions are met and the contract is executed the District may request <br />loan funds to cover eligible proj ect expenses. You can contact Vaughn at <br />(303)866.34.62 regarding the requirements. <br /> <br />c) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. Tim Feehan will contact you regarding this phase of the <br />process. Tim will make construction site visits, which will be the basis of pay estimates <br /> <br />Water Supply Protection. Watershed Protection & Flood Mitigation. Stream & Lake Protection. Water Supply Planning & Finance <br />Water Conservation & Drought Planning. Intrastate Water Management & Development <br />