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ON R COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> Denver, CO 80203 <br /> CO ,'S,r Colorado Water Mike King, DNR Executive Director <br /> Conservation Board P (303)866-3441 <br /> F(303)866-4474 James Eklund,CWCB Director <br /> TO: Colorado Water Conservation Board Members <br /> ♦ <br /> FROM: Jonathan Hernandez, P.E., Project Manager ' <br /> �', <br /> Kirk Russell, P.E., Finance Section Chief L � <br /> DATE: July 16-17, 2014 Board Meeting (Updated July 18, 2014) <br /> AGENDA ITEM: 24a. Emergency Loan <br /> St. Vrain and Left Hand Water Conservancy District - Emergency Rock'n WP <br /> Ranch Lake No. 4 Repair Project <br /> Introduction <br /> The St. Vrain and Left Hand Water Conservancy District (District), acting by and through its water <br /> activity enterprise, is applying for an Emergency Loan for the Emergency Rock'n WP Ranch Lake No. 4 <br /> Repair Project (Project). During the unprecedented flood of September 2013 in the tributaries to the <br /> South Platte River, a significant number of diversion structures and dams along the river corridor were <br /> damaged. Rock'n WP Ranch Lake No. 4 (Lake), co-owned by the District and Boulder County, received <br /> significant damage as a result of this flood. The purpose of the Project is to repair the Lake to resume <br /> its use as a water augmentation reservoir by the District. The total Project cost is estimated to be <br /> $9,000,000. The District is responsible for 50% of final Project cost and is seeking a loan to cover its <br /> share. See attached Project Data Sheet for a location map and Project summary. <br /> Staff Recommendation (Board approved staff recommendation on July 17, 2014) <br /> Staff recommends the Board approve a loan not to exceed $4,545,000 ($4,500,000 for Project cost and <br /> $45,000 for the 1% service fee) to the St. Vrain and Left Hand Water Conservancy District, acting by <br /> and through its water activity enterprise, for 100% of its engineering and construction cost share <br /> related to the Emergency Rock'n WP Ranch Lake No. 4 Repair Project from the Severance Tax <br /> Perpetual Base Fund, up to the approved loan amount. The loan terms shall be 3 years of no interest <br /> followed by 27 years at a blended interest rate of 3.20% per annum. Security for the loan shall be in <br /> compliance with CWCB Financial Policy#5. <br /> Additionally, staff recommends the following contract conditions: <br /> 1. Any future grant funds obtained for the purpose of this Project shall be submitted to CWCB to be <br /> applied to the balance of the loan within thirty (30) days after receipt of said funds. <br /> Interstate Compact Compliance • Watershed Protection • Flood Planning&Mitigation • Stream &Lake Protection z <br /> Water Project Loans&Grants •Water Modeling • Conservation &Drought Planning • Water Supply Planning I • <br /> • <br />