C150373 Approval Letter

• Contract/PO #: CT2015-035
• Contract/PO #: C150373
• Contractor Name: Big Thompson and Platte River Ditch Company
• Contract Type: Loan
• Water District: 4
• County: Larimer
• 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. state. co.us
John W. Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
DNR Executive Director
FROM: Anna Mauss, P.E., Project Manager d6p � James Eklund
Kirk Russell, P.E., Chief CWCB Director
Finance and Administration Section
DATE: October 18, 2013 (Updated October 21, 2013)
SUBJECT: Agenda Item 8e, October 21, 2013 Special Board Meeting
Finance — Emergency Loans
Big Thompson and Platte River Ditch Company — Emergency Big Thompson
and Platte River Diversion Structure Repair
Introduction
The Big Thompson and Platte River Ditch Company (Company) is applying for an Emergency
Loan for the Emergency Big Thompson and Platte River Diversion Structure Repair 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 diversion structure and crossing structures to allow the
Company to deliver water to shareholders. The total Project cost is estimated to be $800,000. 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 $808,000 ($800,000 for project cost and
$8,000 for the 1% service fee) to the Big Thompson and Platte River Ditch Company for 100% of
engineering and construction costs related to the Emergency Big Thompson and Platte River
Diversion Structure Repair 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 1.85% 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