Laserfiche WebLink
STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 SheTman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />Fax:(303)866-4474 <br />www.cwcbstate.co.us <br /> Bill Ritter, Jr. <br /> Govemor <br />TO: Colorado Water Conservation Board Members <br /> Harris D. Sherman <br /> <br />P <br />G2/~/ <br />E <br />M <br />FROM <br />A DNR Executive Director <br />. <br />auss, <br />. <br />nna <br />: <br />~~ <br />~ Jennifer L. Gimbel <br />Mike Serlet P.E. Chief / <br />~ , CWCB Director <br />Water Supply Planning & Finance Section <br /> Dan McAuliffe <br /> CWCB Depury Director <br />DATE: March 10, 2009 (UPDATED March 18, 2009) <br />SUBJECT: Agenda Item 14b, March 17-18, 2009 Board Meeting <br />Water Supply Planning and Finance Section - New Project Loans <br />South Metro Water Supply Authority - Water Supply Pipeline Capacity <br />Acquisition Project <br />Introduction <br />The South Metro Water Supply Authority (Authority) is applying for a$5,040,000 loan for its Water <br />Supply Pipeline Capacity Acquisition Project (Project). The Authority is made up of 13 independent water <br />providers that serve communities in the southern area of inetro Denver. The Project consists of purchasing <br />capacity in the East Cherry Creek Valley (ECCV) Northern Supply Pipeline (Pipeline). The Authority is <br />looking for opportunities to reduce its dependence on groundwater aquifers. The acquisition of capacity in <br />the ECCV pipeline will aid participating Authority members in conveying renewable water supplies, <br />recapturing consumable retum flows, and will increase operational flexibility. The total Project cost is <br />$25,700,000. Only four members of the Authority (Arapahoe County Water and Wastewater Authority, <br />Meridian Metropolitan District, Pinery Water and Wastewater District, and Stonegate Village Metropolitan <br />District) are seeking funding from the CWCB. See attached Project Data Sheet. <br />Staff Recommendation (Board approved staff recommendation on March 17, 2009) <br />Staff recommends the Board approve a loan not to exceed $5,090,400 ($5,040,000 for project costs and <br />$50,400 for the 1% Loan Service Fee) to the South Metro Water Supply Authority for its Water Supply <br />Pipeline Capacity Acquisition Project from the Construction Fund. The loan terms shall be 30 years at <br />an interest rate of 4.5% per annum. Security for the loan shall be in compliance with CWCB Financial <br />Policy #5. <br />Staff further recommends additional approval conditions prior to contracting with the CWCB: <br />1) Water Conservation Plan: Pinery Water and Wastewater District must have a State approved <br />water conservation plan in place. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Watcr Management & Development <br />