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STATE t�F COL(�RAI�C�► <br />Colarado Water Conservation Board <br />Department o� Natural Resaurces <br />1313 Shertnan Stree6ltoom 721 <br />Denver, Calorado 88203 <br />Phone: (303) S6b-3441 <br />Fa�c_ (303} &G6-44?4 <br />www.cwcb.statc.co.ua <br />TO: Colorado Water Conservation Boazd Members <br />FROM: Ryan Etiwards, P.E. <br />Tim Feehan, P.E., Chief <br />Finance Section <br />DATE: September 2, 2011 (Updated September 19, 2011) <br />John W. Hiciccniooper <br />Governor <br />Miicc King <br />Di�R F,xecutive Ilireccor <br />)ennifer L. Gimbel <br />CWCB Director <br />SUB3ECT: Agenda Item 20c, September 13-i4, 2011 Board Mee#ing <br />Finance 5ection — New Praject Loans <br />Tri-County Water Conservancy District — Ridgway Reservoir Micra-Hydro <br />Project <br />Introduction <br />The Tri-County Water Conservancy District (District), acting hy and through its Water Enterprise <br />(Enter�rrise), is applying for a loan for the Ridgway Reservoir Micro-Hydro Project (Pro}cct). The <br />purpose nf the Pzoject is to eonstruct a 7mega-watt (MW} hydroelectric �en�rating facility inta the <br />existing outlet works of Ridgway Dam. The loan request is fox approximately hatf of the <br />$18,170,000 total cost of the Prajeet. See the attached Project Data Sheet for a locatian map and a <br />Project surnmary. <br />Staff Recammendatinn (Board approved staff recommendatian an September 14, ZOII) <br />Staff recammends the Board approve a loan, frvm the Construction Fund, not to exceed $9,090,000 <br />($9,004,000 for project costs and $94,000 for the 1% Loan Service Fee) tp the Tri-Caunty Water <br />Conservancy D�istrict, acting by and thraugh its Vijater Enterprise, far the Ridgway Reservoir Micro- <br />Hydxo Project. The loan terms sha11 be 30 years at th� hydroelectric rate of 2.Q% per annum. <br />Security for the ioan shall be in compliance with the CWCB Financial Pvlicy #5. <br />Staff further recomtnends that no funds be dispersed priar to the fbllowing eonditions being <br />satisfied: <br />I} Execution of the Lease of Power 1'rivilege <br />2) Execution of the Pawer Purchase Agreement <br />3) Execution of the laan cantract with the Colorado Water Resources and Pawer Development <br />Authority <br />4) A 404 Permit &om t.Yie Corps of Engineers, or a I�tter from the Ca�ps stating that a 4U4 <br />Permit is not required. <br />[otsratate &�ederal • WAtcrshed dc F'lood Pratectton • Str�m dc Lake Yrotection • F��gqC! <br />Water [aforenatioa • Wster Caniteerv�tioe & Drought Plrnuing • Water Sopply Plsaning <br />