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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 />TO: <br />FROM: <br />Colorado Water Conservation Board Members <br />Anna Mauss, P.E. G� <br />Water Supply Plamm�g & Finance Section <br />Bill Ritter, Jr. <br />Govemor <br />Harris D. Sherman <br />DNR Executive Director <br />Jennifer L. Gimbel <br />CWCB Director <br />DATE: November 10, 2009 UPDATED November 19, 2009 Dan McAuliffe <br />� � CWCB Deputy Director <br />SUBJECT: Agenda Item 26a, November 16-18 2009 Board Meeting <br />Water Supply Planning and Finance Section — New Project Loans <br />WRCC, Inc. — Cobb Lake Inlet Structure Project <br />Introduction <br />WRCC, Inc. (Company) has requested a loan $1,289,000 for 90% of the cost of its Cobb Lake Inlet <br />Structure Project (Project). The existing inlet structure and ditch have deteriorated to the point that <br />they are dangerous and subject to failure. The cost for the reconstruction of the inlet ditch and <br />stxuctures is estimated to be $1,433,000. See attached Project Data Sheet for a location map and a <br />proj ect summary. <br />Staff Recommendation (Board approved staff recommendation on November 18, 2009) <br />Staff recommends the Board approve a loan from the Construction Fund not to exceed $1,301,890 <br />($1,289,000 for project costs and $12,890 for the 1% Loan Service Fee) to WRCC, Inc. for <br />engineering and construction costs related to the Cobb Lake Inlet Structure Project. The loan terms <br />shall be 30 years at a blended rate of 2.85% per annum. Security for the loan shall be in compliance <br />with CWCB Financial Policy #5. <br />Background <br />The Company owns six storage reservoirs and over 25 miles of supply ditches across Larimer and <br />Weld Counties in Colorado. The reservoirs are: Big Windsor Reservoir, Douglas Reservoir, <br />Reservoir #8, Annex Reservoir, Elder Reservoir and Cobb Lake. These facilities are used to store <br />and supply irrigation water primarily to agricultural users. The Company provides irrigation water <br />to 55,000 acres of irrigated crops. <br />Water Supply Protection • Watershed Protection & Flood Mitigation • Stream & Lake Protection • Water Supply Planning & Finance <br />Water Conservation & Drought Planning • Intrastate Water Management & Development <br />