C150371 Approval Letter - Laserfiche WebLink

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Rough and Ready Irrigating Ditch Company October 18, 2013 (October 21, 2013) Page 2 of 5 Agenda Item 8c Background The Company serves approximately 3,100 irrigated acres in Boulder County north of Longmont. 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, including the Company's river diversion for the Rough and Ready Ditch. The Company and the Palmerton Consolidated Ditch Company share the diversion structure on the St. Vrain Creek. The Company is the Project Sponsor and will be 100% obligated to replay this loan, although the Company is pursuing a cost - sharing arrangement with Palmerton. Prior to the 2013 flood, the diversion structure consisted of a rock and concrete diversion dam and sand gates, and a headgate structure with four headgates, two serving each of the two ditches separately. The central sand gate had been retro - fitted with a Rubicon flumegate that allowed flows bypassing the Rough and Ready /Palmerton diversion to be controlled and measured. Downstream of the two sets of headgates, two separate channels conveyed water in the two ditches to two separate measuring flumes that were replaced just prior to the 2013 irrigation season. After the 2013 flood, nothing remains of the diversion dam. The sand gates collapsed and the Rubicon flumegate was destroyed. The headgate structure with the four headgates was damaged and needs to be removed and replaced. The flood waters overtopped the ditches between the headgates and the measuring flumes and washed out both ditches and both measuring flumes. Post - flood, there are only remnants of the individual ditches between the headgates and Highway 66. Both ditches require rebuilding between the diversion structure and Highway 66; however it appears the two flumes may be salvageable. Loan Feasibility Study Mark Mclean, P.E. with Deere and Ault Consultants, Inc., prepared the Loan Feasibility Study titled "Emergency Loan Application and Feasibility Study," dated October 2013. The study includes an alternative analysis and preliminary engineering design and cost estimates. The study was prepared in accordance with the CWCB guidelines. Borrower — Rough and Ready Irrigating Ditch Company The Company is a Colorado Non - Profit Mutual Irrigation Ditch Company that was incorporated in 1891. The Company's office is located in Longmont. It is in good standing with the Colorado Secretary of State. The Company has issued 95.3538 shares of stock. The Company's revenues are derived from assessments charged on shares of stock owned by the stockholders and from a carriage agreement with Pleasant Valley Reservoir. The Company's by -laws authorize the Board of Trustees to manage the business and affairs of the Company. The Board has the authority to take measures to enforce assessments including the suspension of water deliveries and the eventual sale or forfeiture of shares for failure to pay assessments.