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STATE OF COLORADO <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866 -3441 <br />Fax: (303) 866 -4474 <br />www.cwcb.state.co.us <br />John W. Hickenlooper <br />Governor <br />TO: Colorado Water Conservation Board Members <br />Mike King <br />DNR Executive Director <br />FROM: Jonathan Hernandez, P.E., Project Manager <br />Kirk Russell, P.E., Chief ,J' C — James Eklund <br />f�`� CWCB Director <br />Finance & Administration Section <br />DATE: September 13, 2013 (Updated September 30, 2013) <br />SUBJECT: Agenda Item 28b, September 24 -25, 2013 Board Meeting <br />Finance/Water Supply Planning — Change to Existing CWCB Loan <br />McDonald Ditch Company — McDonald Ditch Diversion and Headgate <br />Replacement Project <br />Introduction <br />The McDonald Ditch Company (Company) received approval of a $70,000 loan to finance its <br />portion of the McDonald Ditch Diversion and Headgate Replacement Project (Project) in May 2012 <br />(contract C150334, not yet executed). The purpose of the Project is to replace the existing <br />McDonald Ditch diversion structure and headgate. This Project is Task 2 and 3 of the larger "Plaza <br />Project Phase 2: McDonald Ditch Implementation Project." Due to a design change of the headgate <br />and diversion structure, the Company is requesting a loan increase of $30,000 to cover its respective <br />financial obligation (10% of Project Cost). The total cost of the Project has increased from <br />$650,000 to $1,085,200. See attached Project Data Sheet for a location map and a project summary. <br />Staff Recommendation (Board approved staff recommendation on September 25, 2013) <br />Staff recommends the Board approve a loan increase of $30,300 ($30,000 for project costs and <br />$300 for the 1 % Loan Service Fee) to the McDonald Ditch Company for the McDonald Ditch <br />Diversion and Headgate Replacement Project, for a total loan not to exceed $101,000 ($100,000 for <br />project costs and $1,000 for the 1% Loan Service Fee), from the Construction Fund. The loan terms <br />shall remain 20 years at the original agricultural rate of 2.50% per annum. Security for the loan <br />shall be in compliance with CWCB Financial Policy #5. <br />Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection <br />Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning <br />