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. <br />prphan Welis oi' Wiggins t.i..0 -- iIX: Forgiveness <br />luly 1, Z011 <br />Page Q af 4 <br />� <br />Agenda I.t;em 27 <br />Stafi Recommendation (Board approved staff recommendations with the following <br />mudifications as stated betow ander "Aetion"} <br />Staff recommends that the Board approve a reduction in II)C for �rphan Wel.ls of Wiggin's L,IrC, <br />from $1�2,b11.72 t� $95,739.28. $95,205.56 �f the TDC due will be rolled into 4�VW's Ioa:n, <br />bringing its final loan balance to $1,048,077.40, which includes a 1% loan service fee, at an interest <br />rate of 2.5%, amortized over 30 yeaxs. OW W will pay the remaining IDC balance of $533.73 <br />directly to CWCB. Additionally, OWW agrees ta atn�nd its laan cantract wit11 CWCB t� inctude <br />ten shares of Riverside Private Reservoir Rights and one share ofJackson Lake Private Reservoir <br />Rights, as collateral and to provid� copies of aIl exeeuted easements associated with the pr�ject. <br />Action: Presentatit,n by 7im �eehan. Travi.s Srr�ith made a m�tivn to uccept the staf�j'' <br />reeornmendalior� with the chcrn�e, fr��m 10 shures of Riverside to S, the removal ��f the wvrcl. "anc�" <br />just bef«re "to prnvide cu�ies ", the addition vf� "cn prcrvic�e a$213,OUlI princi�al payment, anct ihe <br />adjustmen� ��f the annual payment t�r reflect the r•educed�rinci,�al, which ��as secc�nded hy Geoff <br />Blakeslee. The nznti�n pus.recl unanimou.rly (9-0). <br />cc: Steve �3runt�, �'resident, Orphan Welts of Wi�gins I.�.,C; <br />Susan Schneider, AGO <br />Peter Johnson, ACiO <br />Attachment: Letter from Steve Bruntz with OWVV <br />