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Grand Mesa Reservoir Co. Agenda Item 5b <br />September 22-23, 2003 (Updated September 25, 2003) <br />Water Project Construction Loan Program-Project Data <br />Borrower: Grand Mesa Reservoir Company <br />Project Name: Reservoirs #1 and #9 <br />Drainage Basin: Gunnison <br />Total Project Cost: �2�,000 <br />Type of Borrower: Agricultural/Municipal <br />CWCB Loan: $980,000 <br />CWCB Grant: N/A <br />County: Mesa <br />Project Type: Rehabilitation <br />Water Source: Kannah Creek <br />Funding Sources: Company and CWCB <br />Blended Interest Rate: 2.4% <br />Term: 20 years <br />Average Annual Volume of Water diverted: 1,000 AF <br />The Grand Mesa Reservoir Company is located in Mesa County, south of Grand Junction, and <br />diverts water from Kannah Creek. The Company operates 6 reservoirs on the Grand Mesa to <br />supply water to 16 shareholders for irrigation within the 500-acre service area. The Company <br />wants to rehabilitate the outlets on Grand Mesa Reservoirs #1 and #9, 8t►d ao�rtpJ�tM� �pll�y <br />and �eapaga control �fc on Qrand M�sa Resenrotr �t, to address safety concerns. The <br />project will be constructed in fall 2003. The average annual volume diverted from the reservoirs <br />is 1,000 acre-feet. The Grand Mesa Reservoir Company is a mutual ditch company and a <br />nonprofit corporation registered in the State of Colorado. Rod Bonnell, the Company's <br />Secretary-Treasurer, has completed the feasibility study using design information from Bret <br />Guillory P.E., of the City of Grand Junction. Proposed funding for the project consists of a <br />CWCB loan in amount of ��+��,� and the remainder from the Company. <br />6 <br />