Laserfiche WebLink
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: Anna Mauss, P.E., Project Manager James Eklund <br />Kirk Russell, P.E., Chief CWCB Director <br />Finance and Administration Section <br />DATE: September 13, 2013 (Updated September 26, 2013) <br />SUBJECT: Agenda Item 29b, September 24 -25, 2013 Board Meeting <br />Finance/Water Supply Planning— CWCB Loan and WSRA Grant Applications <br />Santa Maria Reservoir Company — Continental Dam Spillway Restoration <br />Project <br />Introduction <br />Santa Maria Reservoir Company (Company) is applying for a WSRA grant and CWCB loan to <br />finance the Continental Dam Spillway Restoration Project (Project). The purpose of the Project is <br />to address seepage and repair the spillway of the Continental Reservoir in order to lift a State <br />Engineers Office (SEO) imposed dam safety storage restriction. The total Project cost is estimated <br />to be $4,055,000. In July of 2013, the Company was approved for a $1,013,750 grant by the Rio <br />Grande Basin Roundtable from the Water Supply Reserve Account. The Company is requesting a <br />loan from the CWCB to cover the remaining 75% of Project Costs. See attached Project Data Sheet <br />for a location map and a Project summary. <br />Staff Recommendation for WSRA Grant (Board approved staff recommendation on <br />September 25, 2013) <br />Staff recommends approval of up to $962,750 from the Statewide Account and $51,000 from the <br />Rio Grande Basin Account to the Santa Maria Reservoir Company to fund the Continental Dam <br />Spillway Restoration Project. <br />Staff Recommendation for CWCB Loan (Board approved staff recommendation on <br />September 25, 2013) <br />Staff recommends the Board approve a loan, from the Construction Fund, not to exceed $3,071,663 <br />($3,041,250 for project costs and $30,413 for the 1% Loan Service Fee) to the Santa Maria <br />Reservoir Company for the Continental Dam Spillway Restoration Project. The loan terms shall be <br />30 years at the agricultural rate of 1.75% per annum. Security for the loan shall be in compliance <br />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 />