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STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> Department of Natural Resources �,ov•ccto <br /> 1313 Sherman Street,Room 721 <br /> :54 <br /> es/ `.r <br /> Denver,Colorado 80203 , - <br /> Phone:(303)866-3441 * <br /> Fax:(303)866-4474 *ls�6 . <br /> www.cwcb.state.co.us <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 <br /> Kirk Russell,P.E., Chief James Eklund <br /> � f CWCB Director <br /> Finance Section <br /> DATE: May 9, 2014 (Updated May 23,2-14) <br /> SUBJECT: Agenda Item 29b, May 21-22,2014 Board Meeting <br /> Chatfield Reallocation Project Loans <br /> Castle Pines Metropolitan District <br /> Introduction <br /> The Castle Pines Metropolitan District(District), acting by and through its water activity enterprise,is <br /> requesting a loan for its participation in the Chatfield Reallocation Project(Reallocation). The <br /> Reallocation is included in the 2014 CWCB Projects Bill (HB14-1333). For the purposes of this loan, <br /> the District's participation in the Reallocation is defined as the Project. The goal of the Project is to <br /> increase the permanence and reliability of its water supply by reducing its dependence on non- <br /> renewable water supplies. The District's total participation cost(Project cost)is estimated to be <br /> $5,550,000. The District is requesting a loan from the CWCB for 90%of its Project cost. See attached <br /> Project Data Sheet for a location map and a Project summary. <br /> Staff Recommendation (Board approved staff recommendation on May 22,2014) <br /> Staff recommends the Board approve a loan not to exceed$5,050,000 ($5,000,000 for Project costs <br /> and $50,000 for the 1% Loan Service Fee)to the Castle Pines Metropolitan District, acting by and <br /> through its water activity enterprise, for its participation in the Chatfield Reallocation Project, from <br /> the Severance Tax Perpetual Base Fund. The loan terms shall be 30 years at the high-income <br /> municipal interest rate of 3.0%per annum. Security for the loan shall be in compliance with CWCB <br /> 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 />