PROJC02180

• Contract/PO #: C150276
• Contractor Name: Center of Colorado Water Conservancy District
• Contract Type: Loan
• Water District: 0
• County: Park
• Loan Projects - Doc Type: Approval Letter

Center of Colorado Water Conservancy District
November 10, 2008 (UPDATED NOVEMBER Z0, 2008)
Page 3 of 4
Project Description
Agenda item 26a
The James Tingle Reservoir is anoff-channel reservoir to be constructed adjacent to Michigan
Creek. The location is critical in order to maintain historic return flows as decreed in Case No.
OSCW111. The Project is fully designed, approved by the SEO, permitted, and under construction.
The design was completed by Deere & Ault Engineering and the construction contract was awarded
to Cat Lake Construction.
Since a Reservoir is necessary to fully utilize the District's water for augmentation year round to
maintain historical return flows only two alternatives were considered:
1. The no-action alternative
2. Construct James Tingle Reservoir
Alternative No. 1- No action alternative was considered unacceptable because without the
Reservoir, the District could not fully utilize its water right for municipal and industrial use under
Case No. OSCW111.
Alternative No. 2 -The James Tingle Reservoir was determined to be the most cost effective and
ideal location for a new reservoir. In addition to the Reservoir, the District will rehabilitate the
Randall and the Session ditches. The Randall Ditch will be repaired to prevent washouts and leaks.
The Sessions Ditch will need to be improved since it will be used to fill the new Reservoir.
Construction contracts have been awarded and completion of the Project is expected by January
2009.
Project Cost Estimate
Engineering $560,000
Construction cost (w/10% contingency) $2,900,000
Randall & Sessions Ditch Rehab. $105,000
Total $3,565,000
Financial Analysis
Table 1 shows a summary of the financial aspects of the loan request. The District is responsible
for 1/7th of the Project costs. The District's interest rate is based on a middle income municipal rate
of 4.0%, and reduced 0.5% for a 10 year loan (per Policy # 7) to an interest rate of 3.5%.
Table 1. Financial Summary
PROJECT/LOAN
Total Pro'ect Cost $3,565,000
Centennial Water & Sanitation District's contribution (6/7`) $3,056,000
Center of Colorado Water Conservanc District's obli ation (1/7`) $509,000
CWCB Loan Re uest a rox. 90% District's obli ation) $450,000
CWCB Loan (Includin 1 % Service Fee) $454,500
CWCB Annual Loan Pa ent $54,600
CWCB Loan Obli ation includin 10% debt reserve fundin $60,100
Pro'ect cost er Acre-Foot based on 400 AF of new stora e) $8,900/AF
Annual Cost of Loan er Acre-Foot (based on District's 195 AF) $280/AF