CT2015-134 Approval Letter

• Contract/PO #: CT2015-134
• Contract/PO #: C150400
• Contractor Name: Prairie Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Approval Letter

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources of COIo
1313 Sherman Street,Room 721 fa
Denver,Colorado 80203 '
Phone:[phone]
Fax:[phone] , 1g76+ *,'
www.cwcb.state.co.us 'I 3
John W.Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
DNR Executive Director
FROM: Jonathan Hernandez, P.E., Project Manager
Kirk Russell, P.E., Chief 4.01-- James Eklund CWCB Director
Finance Section
•
DATE: May 9, 2014 (Updated May 23,2014)
SUBJECT: Agenda Item 31b, May 21-22,2014 Board Meeting
Plaza Project Phase 3: Prairie Ditch Implementation Project
Prairie Ditch Company(CWCB LOAN)
Introduction
The Prairie Ditch Company(Company)is requesting a loan for the Plaza Project Phase 3: Prairie Ditch
Implementation Project(Project). The purpose of the Project is to improve the existing Prairie Ditch
diversion structure and headgate on the Rio Grande River. The total Project cost is estimated to be
$975,000. The Company is requesting a loan from the CWCB for the Company's share of the Project
costs(approximately 13%). See attached Project Data Sheet for a location map and a Project summary.
Staff Recommendation (Board approved staff recommendation on May 22,2014)
Staff recommends the Board approve a loan not to exceed $131,300 ($130,000 for Project costs and
$1,300 for the 1% Loan Service Fee)to the Prairie Ditch Company for the Plaza Project Phase 3:
Prairie Ditch Implementation Project, from the Construction Fund. The loan terms shall be 10 years
at the reduced agricultural interest rate of 1.25%per annum. Security for the loan shall be in
compliance with CWCB Financial Policy#5.
Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection
Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning