Board Meeting

• Description: January 28-29,2013 Board Meeting Agenda
• Date: 1/29/2013
• Water Supply Pro - Doc Type: Meeting

ATTACHMENT
SUMMARY & RESOLUTION OF ISSUES RAISED
BY CWCB STAFF IN SEPTEMBER MEMO TO BOARD
I. "A significant portion of the project costs have yet to be raised. Acquiring the necessary funds from
boaters and other recreation industry partners as planned may take a significant amount of time and
effort." Staff also raised questions about the amount of match being provided by Grand County and
RICD legal expenses.
EXPENSE SUMMARY
PLANNING Engineering, legal, outreach, etc
$495,414
IMPLEMENTATION Permitting. Construction. sb[naae. etc $1190 700
Total Project Estimate $1,686,114
SOURCES OF FUNDS
29%
Grand County
PLANNING
$5W1000"'
IMPLEMENTATION
6%
Grand County
Grant match
$100,
6%
WSRA -Basin Fund
Approved by Colorado Basin Roundtable members
$100,000
23%
WSRA - Statewide Fund
Application pending
$400,000
er Partners
In ro gM (Ugil f& Watem indgM. gran%
"
100%
Amounts are rounded
$1,700,
Grand County agrees that a significant portion of the project costs have yet to be raised and that raising
these funds will take a significant amount of time and effort. This is true of many projects that are
awarded funding.
Grant funds are requested only to pay for a portion of the construction costs to build the structures.
REQUIRED GRANT MATCH IS EXCEEDED: Grand County's contribution of eligible cash match
commitment is $100,000 which Is in addition to significant in -kind contribution from staff. The Colorado
Basin Roundtable unanimously allocated $100,000 from the Colorado Basin Funds.
This investment of $ZW,000 cash match Is four times the amount required by the WSRA guidelines.
Grand County demonstrates a major financial commitment far beyond many other project proponents
that are awarded funds through the WSRA process. The WSRA Criteria and Guidelines do not require
that WSRA funds must be the final increment secured for projects and in fact, they are often used to
generate momentum for funding from other partners. Grand County should not be held to fundraising
standards not specified in the WSRA Criteria and Evaluation Guidelines.
LEGAL EXPENSES: During the October meeting with CWCB staff, questions were raised about the project
planning budget and whether this included Grand County's legal expenses. For transparency, the overall
project budget of about $1.7 million includes all expenses, including RICD legal costs which are about 8%
of the total project budget. Grand County's investment in the RICD legal process during planning is
separate from the detailed implementation budget presented in the final grant application.
To dorify, Grand County is NOT asking CINCH to pay for any legal expenses assodated with the
project The WSRA funds will only be spent to build the structures In the never at Pumphouse.
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