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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street,Room 721 % e <br /> Denver,Colorado 80203 y <br /> Phone:(303)866-3441Q�*rs <br /> Fax:(303)866-4474 6 2g76 4' <br /> www.cwcb.state.co.us • 1 y <br /> John W.Hickenlooper <br /> May 23, 2014 Governor <br /> Mike King <br /> DNR Executive Director <br /> Mr. Lavern Hart, President <br /> James Eklund <br /> Prairie Ditch Company CWCB Director <br /> P.O. Box 32 <br /> Mosca, CO 81146 <br /> Re: Plaza Project Phase 3: Prairie Ditch Implementation Project C150400 <br /> Mr. Hart: <br /> I am pleased to inform you that on May 22, 2014,the Colorado Water Conservation Board <br /> approved your loan request for the Plaza Project Phase 3: Prairie Ditch Implementation Project as <br /> described in the application and approved Loan Feasibility Study titled"Feasibility Study The <br /> Plaza Project-Phase 3: Prairie Ditch Implementation Project" dated February 1, 2014. The <br /> Board approved a loan not to exceed$131,300 ($130,000 for project costs and $1,300 for the 1% <br /> Loan Service Fee). The loan terms shall be 1.25%per annum for 10 years. <br /> I have attached a copy of the updated Board memo dated May 23,2014,that includes the Board's <br /> approval. <br /> After the Board approves a loan there are a few steps that remain in the loan process including: <br /> A) Contracting: An approved contract must be in place before funds can be disbursed. Peg <br /> Mason will contact you to initiate the loan contracting process for this project. When all of <br /> the contract conditions are met and the contract is executed the Company may request loan <br /> funds to cover eligible project expenses. You can reach Peg at(303) 866-3441 x3227. <br /> B) Design/Construction: You must adhere to the CWCB Design and Construction <br /> Administration Procedures. Jonathan Hernandez,P.E.,will be the Project Manager for this <br /> phase of the process and will work with you on the disbursements of your loan funds. You <br /> can contact him at(303) 866-3441 x3234. <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 />