C150369 Approval Letter

• Contract/PO #: CT2015-023
• Contract/PO #: C150369
• Contractor Name: Highland Ditch Company
• Contract Type: Loan
• Water District: 5
• County: Boulder
• Loan Projects - Doc Type: Approval Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.statc.co.us
DATE: October 18, 2013 (Updated October 21, 2013)
SUBJECT: Agenda Item 8a, October 21, 2013 Special Board Meeting
Finance — Emergency Loans
Highland Ditch Company — Emergency Highland Ditch System Repairs
Introduction
The Highland Ditch Company (Company) is applying for an Emergency Loan for the Emergency
Highland Ditch System Repairs Project (Project). During the unprecedented flood of September
2013 in the tributaries to the South Platte River, a significant number of diversion structures and
dams along the river corridor were damaged. The purpose of this Project is to repair the Company's
main diversion structure, headgate, SCADA system, and inlet and outlet of Foothills Reservoir. The
Company's total Project cost is estimated to be $1,980,000. See attached Project Data Sheet for a
location map and project summary.
Staff Recommendation (Board approved staff recommendation on October 21, 2013)
Staff recommends the Board approve a loan not to exceed $1,999,800 ($1,980,000 for project cost
and $19,800 for the I% service fee) to the Highland Ditch Company for 100% of engineering and
construction costs related to the Emergency Highland Ditch System Repairs Project from the
Severance Tax Perpetual Base Fund, up to the approved loan amount. The loan terms shall be three
years of no interest followed by 27 -years at a blended interest rate of 1.95% per annum. Security for
the loan shall be in compliance with CWCB Financial Policy #5.
Staff additionally recommends the following contract condition:
Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to be
applied to the balance of the loan within thirty (30) calendar days after receipt of said funds.
Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection
Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning
John W. Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
FROM: Anna Mauss, P.E., Project Manager
DNR Executive Director
Kirk Russell P.E. Chief j M2-
� �
James Eklund
CWCB Director
Finance and Administration Section
DATE: October 18, 2013 (Updated October 21, 2013)
SUBJECT: Agenda Item 8a, October 21, 2013 Special Board Meeting
Finance — Emergency Loans
Highland Ditch Company — Emergency Highland Ditch System Repairs
Introduction
The Highland Ditch Company (Company) is applying for an Emergency Loan for the Emergency
Highland Ditch System Repairs Project (Project). During the unprecedented flood of September
2013 in the tributaries to the South Platte River, a significant number of diversion structures and
dams along the river corridor were damaged. The purpose of this Project is to repair the Company's
main diversion structure, headgate, SCADA system, and inlet and outlet of Foothills Reservoir. The
Company's total Project cost is estimated to be $1,980,000. See attached Project Data Sheet for a
location map and project summary.
Staff Recommendation (Board approved staff recommendation on October 21, 2013)
Staff recommends the Board approve a loan not to exceed $1,999,800 ($1,980,000 for project cost
and $19,800 for the I% service fee) to the Highland Ditch Company for 100% of engineering and
construction costs related to the Emergency Highland Ditch System Repairs Project from the
Severance Tax Perpetual Base Fund, up to the approved loan amount. The loan terms shall be three
years of no interest followed by 27 -years at a blended interest rate of 1.95% per annum. Security for
the loan shall be in compliance with CWCB Financial Policy #5.
Staff additionally recommends the following contract condition:
Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to be
applied to the balance of the loan within thirty (30) calendar days after receipt of said funds.
Interstate Compact Compliance • Watershed Protection • Flood Planning & Mitigation • Stream & Lake Protection
Water Project Loans & Grants • Water Modeling • Conservation & Drought Planning • Water Supply Planning