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� r�` � STATE, O rrcoLor��o <br />Colorado Water Conservation Board <br />� Department of Natural Resources ,��� <br />� 721 Centennial Building <br />1313 Sherman Street <br />Denver, Colorado 80203 <br />Phone:(303)866-3441 MEMORANDUM <br />FAX:(303)866-4474 RoyRomer <br />Governor <br />� <br />� <br />To: Colorado Water Conservation Board Members <br />From: Larry Lang :.-,��� <br />Date: November 18, 1996 <br />Re: Agenda Item 9.b., November 25-26, 1996, Board Meeting <br />City of Fort Collins - Dry Creek Flood Control Project <br />lames S. Lochhead <br />Executive Director, DNR <br />Daries C. Lile, P.E. <br />Direcror, CWCB <br />BACKGROUND <br />In 1995, the City of Fort Collins {City), in cooperation with La.rimer County (County), submitted an <br />application for funding for the "Dry Creek Flood Control Project" in the amount of $600,000 -(see CWCB <br />memorandum dated October 31, 1995 - Agenda Item 18k for details regaxding the 1995 plan and request). <br />The Board approved the 1995 application and the Colorado legislature authorized and funded the project <br />from the Board's Construction Fund as a Floodplain Project in the 1996 session. The loan was at an interest <br />rate of 4.25% for a term of 30-years, with a loan amount of $500,000. The Board's recommendation for <br />Fort Collins was reduced by the legislature to fund additional floodplain project requests which were added <br />to S.B. 96-153. The City and County made a second request to the CWCB for project funding with a 1996 <br />application. <br />REOUEST <br />In 1996, the City of Fort Collins (City) and Larimer County (County) made a second request in the amount <br />of $600,000. The City a.nd County request has no change in the project plan for the 1996 project <br />application. <br />DISCUSSION <br />The scope and plan for the Dry Creek Foodplain Project is still the same as the 1995 plan. The project's <br />application, description, benefits and costs, and features remain the same as the 1996 project authorization. <br />The only change in the City and County application is the total requested amount of CWCB's construction <br />fund participation in the project which is $1.1 million. <br />1996 SUPPLEMENTAL REQUEST <br />The City and the County requested a supplement to the 1995 loan approval to assist in completing the <br />financing package for the project. The total cost is estimated at $2.85 million dollars including an additional <br />$350,000 for advance project planning. The financial package for the project is: <br />• 1995/961oan approval <br />• 1996/971oan request <br />• Local Improvement District (bond) <br />• Basin Fund Account (cash) <br />$ 500,000 <br />600,000 <br />1,400,000 <br />350,000* <br />TOTAL $2,850,000 <br />