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s�rATE oF co�o�,.�ao <br />Colorado Water Conservation Board <br />Departmerrt of Natural Resources <br />1313 Sherman Street, Room 721 <br />D�nver, Colorado &0203 <br />Phone: (303} 866-3441 <br />Fax: (303) 866-�t74 <br />www.cwcb.state.co.us <br />T4: Colorado Wafer Conservation Board Members <br />FROM: Ryan Edwards, P.E <br />Tim Feehan, P.E., hi <br />Finance Section <br />DATE: March 4, 20l 1(Updated March 21, 2011) <br />John W. Hick�looper <br />Governor <br />Mikc King <br />pNR Execuave Diracwr <br />Jennifer L. Gimbe! <br />CWCB Director <br />SUBJECT: Agenda Item 25a, March 15-16, 2011 Bo�rd Meeting <br />Finance Section — New Project Loans <br />Trinchera Irrigation Company — Gartand #2 Canal Repair <br />Introduction <br />The Trinchera irrigation Campany (Cornpany) is applying for a laan ta rehabilitate a deteriorated <br />portion of the Gazland #2 Canal and diversion headgate, thereby restoring its ability to reliably <br />convey flows while increasing averalI eff ciency. This project has been identified as the Garland #2 <br />Canal Repair Project (Projeet). The loan request is for 90% of the estimated $277,000 total cost of <br />the project. See the attached Praject Data Sheet far a location map and a project summary. <br />Staff Recommendation (Board s�pproved staff recammendation on March 1G, ZOl l.) <br />Staff recommends the Baard approve a loan not to exceed $251,793 ($249,300 for project costs and <br />$2,493 for a i% Loan Service Fee) to the Trinchera Irrigatian Company far the Garland #2 Canal <br />Repair Project from the Canstruction Fund. The ioan terms shall be 34 years at the agricultural rate <br />of 2.75% per annum. Security for the loan shall be in compliance with CWCB Financi�l Policy #5. <br />Backgraund <br />Tkte Ga�land #2 Canal delivers irrigation water to a portion of the Company's service area located <br />north af US Hi�hway 1 b0 and west of Fort Garland. The Canal was ori�inaily constructed araund <br />1913 and required emer�ency repairs following a 2010 flash flaod that washed out part of the canal. <br />The repairs were temporary and not sufficient for a permanent solution. Tiiis Praject offers a <br />perrnanent solutian with the installation of approximately 2,300 feet of pipe and rehabilitation of the <br />head�ate, inlet and outlet structures. <br />The Ccrmpany has received laans from the CWCB Bnard on three separate occasians for <br />imprnvements t� their system. The current status of these laans is detailed in the C.:rec�itw��rthiness <br />s�r.tian af this memo. <br />(nterstAte & i�ederyl • Watershai & Floqd Protertiun • Stream & Lxke i'rottctioa • Fin�ncr <br />�'ater Informasion • Water C'pnservAtion & Drought Ptanning • Waar Suppiy Planning <br />