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� • • •��r• <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />13 ] 3 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 />November 18, 2009 <br />Ms. Laura Berchert <br />Riverside Ditch & Allen Extension Company <br />31715 US Highway 24 North <br />Buena Vista, Colorado 81211 <br />RE: Phased Canal Improvements Project <br />Contract Number C150301 <br />Dear Ms. Berchert: <br />Bill Ritter, Jr. <br />Governor <br />Harris D. Sherman <br />DNR Executive Director � <br />Jennifer L. Gimbel <br />CWCB Director <br />Dan McAuliffe <br />CWCB Depury Director <br />I am pleased to infarm yau that on November 18, 2009 the Colarado Water Conservation Board <br />approved your loan request for the Phased Canal Improvements Project as described in the <br />application and approved Loan Feasibility Study titled "Feasibility Study Considering Phased Canal <br />ImpYOVements, October, 2009 ". The Board approved a loan not to exceed $186,345 ($184,500 for <br />project costs and $1,845 for the 1% Loan Service Fee) with loan terms of 2.75% per annum for 30 <br />years. I have attached a copy of the updated Board memo dated November 1 S, 2009, that includes the <br />Board's approval. <br />After the Board approves a loan there are a few steps that remain in the loan process including: <br />A) Contractin�: 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 Company may request loan funds to cover <br />eligible project expenses. You can contact Vaughn at (303) 866-3441 x 3227 regarding th� <br />requirements. <br />B) Desi�n/Construction: You must adhere to the CWCB Design and Construction Ad���inistratidn <br />Procedures. Tim Feehan will contact you regarding tl�is phase of the process. Tim will make <br />construction site visits, whicl� will be flie basis of pay estimates for disbursement of your loan <br />funds. You can contact Tim at his desk at (303) 866-3441 x 3211 or cell phone (303) 618- <br />5010. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection � Water Supply Planning & Finance <br />Water Conservation & Drought Planning •[ntrastate Water Ma�iageme�it &�evelopment <br />