CT2015-120 Contract - Laserfiche WebLink

Home Browse Search

Project Summary — Inverness Water and Sanitation District Contract No.C150409D SECTION 1 -BORROWER INFORMATION Name: Inverness Water and Sanitation District Type of Entity: The Inverness Water and Sanitation District is a Colorado Title 32 Special District formed pursuant to and governed by Title 32, Article 1, C.R.S. Address: 2 Inverness Drive East, Suite 200, Englewood, CO 80112 Contact: Patrick Mulhern, General Manager Phone Number: 303-649-9857 E-mail address: pat @mulhernmre.com SECTION 2—PROJECT DESCRIPTION A. Description of PROJECT: This loan contract, to be used for the District's participation in the Water Infrastructure and Supply Efficiency Project(WISE)to reduce the District's dependence on non-renewable water sources, and specific to the Dia Connection is defined as the "PROJECT". The DIA Connection project component, a 24-inch 6 mile pipeline interconnection between Denver Water's treated distribution system near DIA and Aurora's Prairie Waters pipeline, will provide blend water deliveries for the WISE Authority members. Denver Water will own and operate the DIA Connection. The District's total participation cost is estimated to be $5,454,000. The CWCB approved a total loan amount not to exceed $4,908,600, for the District's participation cost of WISE, the loan amount for this contract, for the ECVV Pipeline Purchase, is $454,500 which includes a one percent (1%) loan service fee of$4,500. B. Description of Feasibility Study: The CWCB has reviewed a feasibility study report dated October 23, 2013 on the PROJECT, titled "Water Infrastructure and Supply Efficiency Project Loan Feasibility Study,"which was prepared by Black&Veatch, on behalf of the WISE Authority. This study includes an alternative analysis, conceptual design descriptions, exhibits, cost estimates, and financial statements audited by Simmons and Wheeler, PC. Additional clarification and information was provided by Eric Hecox and Rick Marsicek, P.E. of South Metro Water Supply Authority. Based upon the feasibility report, the CWCB determined the PROJECT to be technically and financially feasible. SECTION 3—CWCB'S AUTHORITY Construction Fund: This loan is made pursuant to the provisions of §§ 37-60-119 and 37-60-120, C.R.S., which authorize the CWCB to loan money for water projects from the CWCB Construction Fund for the benefit of the people of the state, provided that the borrower assures repayment of that money. Pursuant to CWCB Projects Bill (HB14-1333), the Colorado General Assembly authorized CWCB to loan moneys for the authorized WISE Projects, up to a total amount of $43,430,000.00. Appendix 1 to Loan Contract C150409D Page 1 of 4