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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 />FROM: Jonathan Hernandez, P.E., Project Manager <br />Kirk Russell, P.E., Chief <br />Finance and Administration Section <br />DATE: October 18, 2013 (Updated October 21, 2013) <br />John W. Hickenlooper <br />Governor <br />Mike King <br />DNR Executive Director <br />James Eklund <br />CWCB Director <br />SUBJECT: Agenda Item 8h, October 21, 2013 Special Board Meeting <br />Finance — Emergency Loans <br />Consolidated Home Supply Ditch and Reservoir Company — Emergency Big <br />Dam Diversion Structure Repair <br />Introduction <br />The Consolidated Home Supply Ditch and Reservoir Company (Company) is applying for an <br />Emergency Loan for the Emergency Big Dam Diversion Structure Repair Project (Project). During <br />the unprecedented flood of September 2013 in the tributaries to the'South Platte River, a significant <br />number of diversion structures and dams along the river corridor were damaged. The Company's <br />Big Dam diversion structure received significant damage as a result of this flood. The purpose of <br />the Project is to repair the diversion structure to allow the Company to divert their decreed water <br />rights. The total Project cost is estimated to be $1,600,000. See attached Project Data Sheet for a <br />location map and project summary. <br />Staff Recommendation (Board approved staff recommendation on October 21, 2013) <br />Staff recommends the Board approve a loan not to exceed $1,616,000 ($1,600,000 for Project cost <br />and $16,000 for the I% service fee) to the Consolidated Home Supply Ditch and Reservoir <br />Company for 100% of engineering and construction costs related to the Emergency Big Dam <br />Diversion Structure Repair Project from the Severance Tax Perpetual Base Fund, up to the <br />approved loan amount. The loan terms shall be 3 years of no interest followed by 27 years at a <br />blended interest rate of 1.95% per annum. Security for the loan shall be in compliance with CWCB <br />Financial Policy #5. <br />Additionally, staff recommends the following contract condition: <br />Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to <br />be applied to the balance of the loan within thirty (30) days after receipt of said funds. <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 />