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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax: (303)866-4474 <br />www.cwcbstate.co.us <br />November 20, 2008 <br /> Bill Ritter, Jr. <br /> Governor <br /> Hams D. Sherrnan <br /> DNR Executive Director <br />Mr. Jim Culichia <br />& Culichi LLC <br />Monson <br />Felt <br />~ Jennifer L. Gimbel <br />, <br />, CWCB Director <br />319 North Weber St. <br />Colorado S rin s, CO 80903 <br />P g Dan McAuliffe <br />CWCB Deputy Director <br />RE: James Tingle Reservoir Project Loan <br />Loan Contract #C 150276 <br />Dear Mr. Culichia: <br />I am pleased to inform you that on November 19, 2008 the Colorado Water Conservation Board <br />approved your loan request for the James Tingle Reservoir Project as described in the application and <br />approved Loan Feasibility Study titled "Feasibility Study for James Tingle Reservoir ", dated June 20, <br />2008. The Board approved a loan not to exceed $454,500 ($450,000 for project costs and $4,500 for the <br />1% Loan Service Fee) with loan terms of 3.50% per annum for 10 years. I have attached a copy of the <br />updated Board memo dated November 20, 2008, that includes the Board's approval. <br />After the Board approves a loan there are a few steps that remain in the loan process including: <br />A) Contracting: An approved contract must be in place before funds can be disbursed. Vaughn <br />McWilliams will initiate the loan contracting process for this project. When all of the contract <br />conditions are met and the contract is executed the District may request disbursements to cover <br />eligible project expenses. You can contact Vaughn at (303) 866.3441 x3227 regarding the <br />requirements. <br />B) Design/Construction: You must adhere to the CWCB Design and Construction Administration <br />Procedures. Tim Feehan will contact you regarding this phase of the process. Tim will make <br />construction site visits, which will be the basis of pay estimates for disbursement of your loan <br />funds. You can contact Tim at (303) 866.3441 x3211 or cell (303) 618.5010. <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 />