CWCB Annual Report December 1995

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3.0 Water Project Construction Loan Program 3.1 Completed Construction Projects The CWCB Construction Fund was established by the General Assembly in 1971 to provide low interest, long-term loans to water users for the development of water projects. The first project was completed in 1977. By the end of FY94-95, the fund provided over $76.6 million in financing for over 125 water projects. A list of the completed projects is shown in Appendix A. Under authority of Section 37-60-119 and 121, CRS, the monies in the Construction Fund are to be used for new storage projects which increase the beneficial consumptive use of Colorado's compact-entitled waters and for the repair and rehabilitation of existing storage and raw water delivery systems. The CWCB may recommend funding of the following types of water projects through this program: I • Construction of new reservoirs or enlargement of existing dam s to enhance water supplies ' and develop Colorado's compact entitlement. • Rehabilitation of existing dams to meet safety standards and to recover lost storage capacity. • Repair or construction of water resources infrastructure for agricultural or municipal raw water supply systems including such facilities as diversion structures, canals, ditches, and pipelines. ' • Improvements in water management to increase water use efficiency, to maintain or increase water supplies, or to increase beneficial consumptive use. • Mitigation of impacts on fish and wildlife due to dam construction. • Improvements in management of information about Colorado's water. The costs of acquisition of land and water rights is generally not eligible for CWCB funding except as part of a project. The CWCB does not currently provide funding for municipal water treatment and distribution systems. Up to 5-percent of the Board's annual revenue may now be used to finance flood control projects. The CWCB's financial participation in any single project is generally limited to a maximum of 75-percent of the total engineering and construction cost of the project. The CWCB may loan up to 50-percent of the cost of a feasibility study for a water project. The Board's feasibility study loan must be repaid whether a project is constructed or not. 1 CWCB Annual Report, page 15