C150377 Approval Letter

• Contract/PO #: CT2015-014
• Contract/PO #: C150377
• Contractor Name: Church Ditch Water Authority
• Contract Type: Loan
• Water District: 7
• County: Jefferson
• 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. ewcb. state. co.us
John W. Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
DNR Executive Director
FROM: Jonathan Hernandez, P.E., Project Manager James Eklund
Kirk Russell, P.E., Chief V-biL CWCB Director
Finance and Administration Section
DATE: October 18, 2013 (Updated October 21, 2013)
SUBJECT: Agenda Item 8j, October 21, 2013 Special Board Meeting
Finance - Emergency Loans
Church Ditch Water Authority - Emergency Leyden Creek Crossing Repair
Introduction
The Church Ditch Water Authority (Authority) is applying for an Emergency Loan for the
Emergency Leyden Creek Crossing 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 Leyden Creek Crossing structure
received significant damage as a result of this flood. The purpose of the Project is to repair the
crossing structure to allow the Authority to convey its decreed water rights. The total Project cost is
estimated to be $600,000. 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 $606,000 ($600,000 for project cost and
$6,000 for the 1% service fee) to the Church Ditch Water Authority for 100% of engineering and
construction costs related to the Emergency Leyden Creek Crossing Repair Project from the
Severance Tax Perpetual Base Fund, up to the approved loan amount. The loan terms shall be 3
years of no interest followed by 27 years at a blended interest rate of 2.85% per annum. Security for
the loan shall be in compliance with CWCB Financial Policy #5.
Additionally, staff 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) 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