C150301approval ltr

• Contract/PO #: CT2015-050
• Contract/PO #: C150301
• Contractor Name: Riverside Ditch and Allen Extension Company, The
• Contract Type: Loan
• Water District: 11
• County: Chaffee
• Loan Projects - Doc Type: Approval Letter

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Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman 5treet, Room 72]
Denver, Colorado 80203
Phone: [phone]
Fax:[phone]
www.cwcb.state.co.us
TO: Colorado Water Conservation Board Members
FROM: Anna Mauss, P.E. QJ� 'v
Water Supply Planning & Finance Section
DATE: November 10, 2009 (UPDATED November 18, 2009)
Bill Ritter, Jr.
Govemor
Harris D. Sherman
DNR Executive Direetor
Jennifer I,. Gimbel
CWCB Director
Dan McAuliffe
CWCB Deputy Director
SUBJECT: Agenda Item 26b, November 16-18, 2009 Board Meeting
Water Supply Planning and Finance Section — New Project Loans
Riverside Ditch & Allen Extension Co. — Phased Canal Improvements Project
Introduction
The Riverside Ditch and Allen Extension Company (Company) has requested a$184,SOO loan for 90%
of the cost of its Phased Cana1 Improvements Project (Project). Currently, the Company's structures,
including the canal, headgate, check structures, and flumes, are in need of repair or replacement. The
estimated Project cost is $205,000. See attached Project Data Sheet for a location map and a project
summary.
Staff Recommendation (Board approved staff recommendation November 18, 2009)
Staff recommends the Board approve a loan from the Construction Fund not to exceed $186,345
($184,500 for project costs and $1,845 for the 1% Loan Service Fee) to the Riverside Ditch and
Allen Extension Company for engineering and construction costs related to the Phased Canal
Improvements Project. The loan terms shall be 30 years at the agricultural rate of 2.75% per annum.
Security for the loan shall be in compliance with CWCB Financial Policy #5.
Background
The Company, ]ocated just north of Buena Vista, Colorado in Chaffee County, operates tlle
Riverside Ditch (canal) that has provided irrigation water to 450 acres for more than 125 years. Th�
Company diverts water frorn fhe Arkansas River through an earthen dike on the west side of the
river.
The canal is approximately 8 miles long and has received very little repair oi itnprovements in
rec��lt decades. T11e Company has decided that it is ti�r�e for canal mode� and to repair the
aging i��frastructure to assure all shareholders have a reliable delivery of water.
Water Supply Protection • Watershed Prntection & Flood MitigaYion • Strcam & Lake Protectiun • WaYer Supply Planning & Finance
R'ater Conservation & Drou�ht Pla��ning • Intrastate Water Mana�;ement & Development