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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.cwcb.state.co.us <br />Bill Ritter, Jr. <br />Governor <br />TO: Colorado Water Conservation Board Members <br />Hams D. Sherman <br />DNR Executive Director <br />FROM: Anna Mauss, PE G2/~/ <br />Mike Serlet PE Chief `~~9/. Jennifer L. Gimbel <br />~ + ~ CWCB Director <br />Water Supply Planning & Finance Section <br />Dan McAuliffe <br />CWCB Deputy Director <br />DATE: November 10, 2008 (Updated November 20, 2008) <br />SUBJECT: Agenda Item 26c, November 18-19, 2008 Board Meeting <br />Water Supply Planning and Finance Section -New Project Loans <br />Weldon Valley Ditch Company -Cottonwood Draw Flume <br />Introduction <br />The Weldon Valley Ditch Company (Company) is applying fora $135,000 loan to rehabilitate its <br />Cottonwood Draw Flume (Project). The 43 year old flume is located along Weldon Ditch, <br />approximately three miles east of Jackson Lake. The metal channel and wooden structure that support <br />the flume are deteriorating and need to be improved in order to assure delivery of water to Company <br />shareholders. The Project cost estimate is $150,000. This loan request is for 90% of the estimated <br />Project cost. See attached Project Data Sheet. <br />Staff Recommendation (Board approved Staff recommendation November 19, 2008) <br />Staff recommends the Board approve a loan not to exceed $136,350 ($135,000 for project costs and <br />$1,350 for the 1% Loan Service Fee) to the Weldon Valley Ditch Company for the improvements <br />to the Cottonwood Draw Flume from the Severance Tax Trust Fund Perpetual Base Account. The <br />loan terms shall be 30 years at a blended interest rate of 2.6% per annum. Security for the loan shall <br />be in compliance with CWCB Financial Policy #5. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & bake Protection • Water Supply Planning & Finance <br />Water ('onservation & Drought Planning • Intrastate Water Management & Development <br />