C150327 Deferral Approval Letter

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BIG ELK MEA.DOWS ASSOCIATION P.O. Boz 440 Lyons, CO 80540 January 11, 2014 Kirk Russell, P.E., Chief Colorado Water Conservation Board 1313 Sherman Street, Room 721 Denver, CO 80203 RE: Loan Contract Number C150327 Loan Payment Defenal Request Deax Mr. Russell, This is a request for a three-year loan payment defenral relative to the above referenced loan agreement between the Colorado Water Conservation Board and Big Elk Meadows Association. The annual loan payment is due February 1, 2012, in the amount of $16,741.47. The totalloan amount was $272,700, and the first payment was made Februazy 1, 2012. Due to the unprecedented flood of September 2013 in the tributaries to the South Platte River, the Association encountered significant hardship and unexpected financial d.ifficulties resulting from the damage incurred by the flood. Big Ellc Meadows Association suffered catastrophic damage to its community. The Association has 160 homes, with a subsiantial number of full-time residents. Following is a list of major damages sustained: • Five dams totally destroyed, including the dam repaired under this loan • Destruction of our domestic water system supplying all homes • Destruction of our County and State access roads • Heauily damaged interior roads • Loss of power distribution • Loss of all connmunications systems The impact, including Meadow Lake Dam, is estimated at $4.5 million to $5.0 million. Dvring the next three years, we will commit our resources to the reconstruction of our lakes and infrastructure. Deferral of this loan payment wou.ld relieve some of our financial burden during this trying time. Your consideration to process this request for a three-yeaz loan payment deferral for Boazd approval wiil be greatly appreciated. Please advise if you need anything else from the Association regarding this matter. Best regards, 1 ely, President Board of Directors Big Elk Meadows Association