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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 />October 22, 2013 <br />John W. <br />Gove oHickenlooper <br />Mike King <br />DNR Executive Director <br />North Poudre Irrigation Company, Inc <br />Attn: Scott F. Hummer, Manager James Eklund <br />g CWCB Director <br />P.O. Box 100 <br />Wellington, CO 80549 <br />Re: Emergency Fossil Creek Reservoir Inlet Diversion Structure Repair <br />Contract Number C 1503 68 <br />Mr. Hummer: <br />I am pleased to inform you that on October 21St, 2013 the Colorado Water Conservation Board <br />approved your loan request for the Emergency Fossil Creek Reservoir Inlet Diversion Structure <br />Repair as described in the application and approved Loan Feasibility Study titled "Emergency <br />Loan Application and Feasibility Study ", dated October 2013. The Board approved a loan not to <br />exceed $481,770 ($477,000 for project costs and $4,770 for the 1% Loan Service Fee). The loan <br />terms shall be three years of no interest followed by 27 years at a blended interest rate of 2.35% <br />per annum. <br />I have attached a copy of the updated Board memo dated October 22, 2013, that includes the <br />Board's approval. <br />After the Board approves a loan there are a few steps that remain in the loan process including: <br />A) Contracting: An approved contract must be in place before funds can be disbursed. Peg <br />Mason will contact you to initiate the loan contracting process for this project. When all of <br />the contract conditions are met and the contract is executed the Company may request loan <br />funds to cover eligible project expenses. You can reach Peg at (303) 866 -3441 x3227. <br />B) Design/Construction: You must adhere to the CWCB Design and Construction <br />Administration Procedures. The Project Manager will contact you for this phase of the <br />process and will work with you on the disbursements of your loan funds. <br />Collaboration: The Borrower is encouraged to consider rebuilding a river diversion system <br />which improves the consumptive and nonconsumptive uses of the river corridor. Examples <br />include improved fish passage, improved raftingiboating navigation, and possible shared <br />ownership /use of a single diversion structure where possible. If needed, loan funds may be <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 />