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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 />TO: Colorado Water Conservation Board Members <br />John W. Hickenlooper <br />Governor <br />FROM: Kirk Russell P.E. Chief <br />> > f <br />Mike zing <br />DNR Executive Director <br />Finance & Administration Section <br />James Eklund <br />CWCB Director <br />DATE: September 13, 2013 (UPDATED September 26, 2013) <br />SUBJECT: Agenda Item 29c, September 24 -25, 2013 Board Meeting <br />Finance/Water Supply Planning — CWCB Loan and WSRA Grant <br />Lone Cabin Ditch & Reservoir Company — Lone Cabin Dam Rehabilitation <br />Project <br />Introduction <br />The Lone Cabin Ditch & Reservoir Company (Company) is applying for a WSRA grant and a <br />CWCB loan to finance the Lone Cabin Dam Rehabilitation Project (Project). The Project will repair <br />the dam and remove the fill restriction placed on the dam by the State Engineers Office (SEO) — <br />Dam Safety Branch. The total Project cost is estimated at $334,300. In March of 2013, the <br />Company was approved for a Basin and Statewide Water Supply Reserve Account (WSRA) by the <br />Gunnison Basin Roundtable. Due to the limited WSRA funds, staff is recommending a reduced <br />grant amount. The Company is requesting a CWCB loan to cover the remaining Project costs <br />(approximately 75 %). See attached Project Data Sheet for a location map and a Project summary. <br />Staff Recommendation for WSRA Grant <br />Staff recommends approval of up to $46,000 from the Statewide Account and $38,000 from the <br />Gunnison Basin Account to the Lone Cabin Ditch & Reservoir Company to fund the Lone Cabin <br />Dam Rehabilitation Project. <br />Staff Recommendation for CWCB Loan <br />Staff recommends the Board approve a loan, from the Construction Fund, not to exceed $252,803 <br />($250,300 for project costs and $2,503 for the I% Loan Service Fee) to the Lone Cabin Ditch & <br />Reservoir Company for the Lone Cabin Dam Rehabilitation Project. The loan terms shall be 30 <br />years at the agricultural rate of 1.75% per annum. Security for the loan shall be in compliance with <br />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 />