C150392 Approval Letter

• Contract/PO #: C150392
• Contractor Name: Sylvan Dale Ranch, LLLP
• Contract Type: Loan
• Loan Projects - Doc Type: Approval Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources y °v Cot°
1313 Sherman Street,Room 721
Denver,Colorado 80203 c * ,
Phone:[phone]
Fax:[phone] ' */876*
www.cwcb.state.co.us • f }
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Hickenloo
John W.Hickenlooper
23, 2014 Governor
Mike King
DNR Executive Director
Mr. David Jessup, General Partner
James Eklund
Sylvan Dale Ranch, LLLP
CWCB Director
2939 North County Rd. 31D
Loveland, CO 80537
Re: Emergency Irrigation Pond Excavation C150392
Mr. Jessup:
I am pleased to inform you that on May 22,2014,the Colorado Water Conservation Board
approved your loan request for the Emergency Irrigation Pond Excavation as described in the
application and approved Loan Feasibility Study titled"Feasibility Study Sylvan Dale Ranch
Irrigation Ponds Excavation Project" dated December 19, 2013. The Board approved a loan not
to exceed$105,171 ($104,130 for project costs and $1,041 for the 1% Loan Service Fee). The
loan terms shall be three years of no interest followed by 27 years at the agricultural interest rate
of 1.75%per annum.
I have attached a copy of the updated Board memo dated May 23, 2014,that includes the Board's
approval.
After the Board approves a loan there are a few steps that remain in the loan process including:
A) Contracting: An approved contract must be in place before funds can be disbursed. Peg
Mason will contact you to initiate the loan contracting process for this project. When all of
the contract conditions are met and the contract is executed the Company may request loan
funds to cover eligible project expenses. You can reach Peg at(303) 866-3441 x3227.
B) Design/Construction: You must adhere to the CWCB Design and Construction
Administration Procedures. Mike Serlet,P.E.,will be the Project Manager for this phase of
the process and will work with you on the disbursements of your loan funds.You can
contact him at(303) 656-3720.
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