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
1313 Sherman Street,Room 721 H�
Denver,Colorado 80203 * {�J
Phone:[phone] 0
Fax:[phone] /A76 ,
www.cwcb.state.co.us ,,� i • '
John W.Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
DNR Executive Director
FROM: Anna Mauss, P.E., Project Manager James Eklund
Kirk Russell, P.E., Chief ;Z— CWCB Director
Finance Section •
DATE: May 9, 2014 (Updated May 23,2014)
SUBJECT: Agenda Item 35a, May 21-22,2014 Board Meeting
Emergency Loans
Sylvan Dale Ranch LLLP—Emergency Irrigation Pond Excavation
Introduction
The Sylvan Dale Ranch, LLLP (Ranch) is applying for an Emergency Loan for the Emergency
Irrigation Pond Excavation(Project). During the unprecedented flood of September 2013 in the .
tributaries to the South Platte River, a large amount of silt and debris was deposited along the river
corridor. The purpose of this Project is to excavate the irrigation ponds that were silted in during the
flood and restore them to their former use. The total Project cost is estimated to be $104,130. The
Ranch is requesting a loan to cover 100% of the Project costs. See attached Project Data Sheet for a
location map and Project summary.
Staff Recommendation (Board approved staff recommendation on May 22,2014)
Staff recommends the Board approve a loan not to exceed$105,171 ($104,130 for Project cost and
$1,041 for the 1% service fee)to the Sylvan Dale Ranch, LLLP for the engineering and
construction costs related to the Emergency Irrigation Pond Excavation Project from the Severance
Tax Perpetual Base Fund, up to the approved loan amount. The loan terms shall be three years of no
interest followed by 27-years at the agricultural interest rate of 1.75%per annum. Security for the
loan shall be in compliance with CWCB Financial Policy#5.
Staff additionally recommends the following contract conditions:
Any future grant funds obtained and for the purpose of this Project shall be submitted to CWCB
to be applied to the balance of the loan within thirty (30) calendar 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