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DNR COLORADO 1313 Sherman Street John Hickentooper, Governor <br /> Denver,CO 80203 <br /> Co Colorado Water Mike Kin DNR Executive Director <br /> � Conservation Board P (303)866-3441 �� <br /> Department of Natural Resources F(303)866-4474 James Eklund,CWCB Director <br /> TO: Colorado Water Conservation Board Members <br /> so, <br /> FROM: Jonathan Hernandez, P.E., Project Manager/ <br /> Kirk Russell, P.E., Finance Section Chief. <br /> DATE: September 11-12, 2014 Board Meeting (Updated September 12, 2014) <br /> AGENDA ITEM: 6a. Water Project Loans <br /> Sterling Irrigation Company Emergency Sterling Ditch Rehabilitation Project <br /> Introduction <br /> The Sterling Irrigation Company (Company) is applying for a loan for the Emergency Sterling Ditch <br /> Rehabilitation Project (Project). During the unprecedented flood of September 2013 in the tributaries <br /> to the South Platte River, a significant number of diversion structures and dams along the river corridor <br /> were damaged. The Company's ditch received significant damage as a result of this flood as well as the <br /> following spring 2014 snowmelt runoff. The purpose of the Project is to repair the ditch and allow the <br /> Company to divert its decreed water rights. The total Project cost is $123,260. The Company is <br /> requesting a loan from CWCB for approximately 80%of the Project Cost. See attached Project Data <br /> Sheet for a location map and Project summary. <br /> Staff Recommendation (Board Approved Staff Recommendation on September 11, 2014) <br /> Staff recommends the Board approve a loan not to exceed $101,000 ($100,000 for Project cost and <br /> $1,000 for the 1% service fee) to the Sterling Irrigation Company, for engineering and construction cost <br /> related to the Emergency Sterling Ditch Rehabilitation Project from the Severance Tax Perpetual Base <br /> Fund, up to the approved loan amount. The loan terms shall be 10 years at the agricultural interest <br /> rate of 1.50% per annum. Security for the loan shall be in compliance with CWCB Financial Policy#5. <br /> Interstate Compact Compliance•Watershed Protection • Flood Planning Et Mitigation • Stream Et Lake Protection „ �9 <br /> F <br /> Water Project Loans Et Grants •Water Modeling Conservation Et Drought Planning Water Supply Planning <br /> t# * <br /> -.. X876 <br />