Laserfiche WebLink
STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources .0c COlo <br /> 1313 Sherman Street,Room 721 <br /> Denver,Colorado 80203 y,� <br /> Phone:(303)866-3441 <br /> Fax:(303)866-4474 , sts s*, <br /> www.cwcb.state.co.us 1 <br /> John W.Hickenlooper <br /> Governor <br /> TO: Colorado Water Conservation Board Members <br /> Mike King <br /> DNR Executive Director <br /> FROM: Jonathan Hernandez, P.E., Project Manager et <br /> Kirk Russell, P.E., Chief James Eklund CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2014) <br /> SUBJECT: Agenda Item 35b, May 21-22,2014 Board Meeting <br /> Emergency Loans <br /> Louden Irrigating Canal and Reservoir Company—Emergency Diversion <br /> Structure and Ditch Repair <br /> Introduction <br /> The Louden Irrigating Canal and Reservoir Company (Company) is applying for a loan for the <br /> Emergency Diversion Structure and Ditch Repair Project(Project). During the unprecedented flood <br /> of September 2013 in the tributaries to the South Platte River, a significant number of diversion <br /> structures and dams along the river corridor were damaged. The Company's diversion structure and <br /> ditch received significant damage as a result of this flood. The purpose of the Project is to repair the <br /> diversion structure and ditch to allow the Company to divert their decreed water rights. The total <br /> Project cost is estimated to be $215,000. The Company is requesting a loan from CWCB for <br /> approximately 75%of the Project Cost. See attached Project Data Sheet for a location map and <br /> project summary. <br /> Staff Recommendation (Board approved staff recommendation on May 22,2014) <br /> Staff recommends the Board approve a loan not to exceed $161,600 ($160,000 for Project cost and <br /> $1,600 for the 1% service fee)to the Louden Irrigating Canal and Reservoir Company for <br /> engineering and construction costs related to the Emergency Diversion Structure and Ditch Repair <br /> Project from the Severance Tax Perpetual Base Fund, up to the approved loan amount. The loan <br /> terms shall be 30 years at the blended interest rate of 2.70%. Security for the loan shall be in <br /> compliance with CWCB Financial Policy#5. <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 />