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x STATE OF COLORADO <br /> Colorado Water Conservation Board <br /> 41111 Department of Natural Resources �� � <br /> 1313 Sherman Street <br /> Denver,Colorado 80203 <br /> Phone: (303)866-3441 ■�-- <br /> FAX: (303)866-4474 <br /> Bill Owens <br /> - Governor <br /> Greg E.Walcher <br /> Executive Director,DNR <br /> Peter H.Evans <br /> Director,CWCB <br /> MEMORANDUM <br /> TO: Colorado Water Conservation Board Members <br /> r <br /> FROM: Bill Stanton, P.E., Chief, Project Planning and Construction Secti <br /> Mike Serlet, P.E., Design and Construction Project Manager <br /> DATE: March 22, 1999 <br /> SUBJECT: Agenda Item # 18.a., March 29-30, 1999, Board Meeting — Water <br /> Project Construction Loan Program — Changes in Existing Loans — <br /> Buffalo Mutual Irrigation Co.—Diversion Structure Rehabilitation <br /> • <br /> INTRODUCTION . <br /> Due to unforeseen construction site conditions resulting in subsequent increased <br /> re-design costs, construction delays, and increased construction costs, the Buffalo Mutual , <br /> Irrigation Company (Buffalo Mutual) is requesting a $71,000 increase to their previously <br /> authorized loan. <br /> BACKGROUND <br /> A loan for the rehabilitation of the Buffalo Mutual Arkansas River Diversion <br /> Dam, located in Prowers County east of Lamar, was approved in. 1997 through SB 97- <br /> 008 and amended in 1998 for a total loan amount of $378,750. The loan to Buffalo <br /> Mutual covered 75% of the estimated project cost of$505,000 at the agricultural interest <br /> rate of 3.75% over 30 years. The project consisted of a 200-foot continuous concrete <br /> overflow section across the Arkansas River, diverting water to a new concrete headgate <br /> structure. <br /> During demolition of the old diversion structure, and site preparation for the new <br /> IIIstructure's foundation, it was discovered that the old structure's foundation was much <br /> • <br />