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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources w • <br /> 1313 Sherman Street,Room 721 4. <br /> Denver,Colorado 80203 , <br /> Phone:(303)866-3441 * * <br /> Fax:(303)866-4474 <br /> www.cwcb.state.co.us 1 <br /> John W.Hickenlooper <br /> Governor <br /> TO: Colorado Water Conservation Board Members <br /> Mike King <br /> Et- <br /> James Executive Director <br /> FROM: Jonathan Hernandez, P.E., Project Manager(t' <br /> James Eklund <br /> Kirk Russell, P.E., Chief CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2014) <br /> SUBJECT: Agenda Item 29c, May 21-22,2014 Board Meeting <br /> Chatfield Reallocation Project Loans <br /> Castle Pines North Metropolitan District <br /> Introduction <br /> The Castle Pines North Metropolitan District(District), acting by and through its water activity <br /> enterprise,is requesting a loan for its participation in the Chatfield Reallocation Project(Reallocation). <br /> The Reallocation is included in the 2014 CWCB Projects Bill(HB-1333). For the purposes of this <br /> loan,the District's participation in the Reallocation is defined as the Project. The goal of the Project is <br /> to increase the permanence and reliability of its water supply be reducing its dependence on non- <br /> renewable water supplies. The District's total participation cost(Project cost)is estimated to be <br /> $7,100,000. The District is requesting a loan from the CWCB for 90%of its Project cost. See attached <br /> Project Data Sheet for a location map and a Project summary. <br /> Staff Recommendation (Board approved staff recommendations on May 22,2014) <br /> Staff recommends the Board approve a loan not to exceed $6,453,900 ($6,390,000 for Project costs <br /> and $63,900 for the 1% Loan Service Fee)to the Castle Pines North Metropolitan District, acting <br /> by and through its water activity enterprise, for its participation in the Chatfield Reallocation <br /> Project, from the Severance Tax Perpetual Base Fund. The loan terms shall be 30 years at the high- <br /> income municipal interest rate of 3.0%per annum. Security for the loan shall be in compliance with <br /> CWCB Financial Policy#5. <br /> • <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 />