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D N R COLORADO 1313 Sherman Street John Hickenlooper,Governor <br /> ait Denver,CO 80203 <br /> CO Colorado Water Mike King, 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 /> FROM: Jonathan Hernandez, P.E., Project Manager <br /> Kirk Russell, P.E., Finance Section Chief ILL' <br /> DATE: November 19-20, 2014 Board Meeting (Updated November 21, 2014) <br /> AGENDA ITEM: 27c. Water Project Loans <br /> Platte Valley Irrigation Company - Sand Hill Lake Outlet Works Rehabilitation <br /> Project <br /> Introduction <br /> The Platte Valley Irrigation Company (Company) is applying for a loan for the Sand Hill Lake Outlet <br /> Works Rehabilitation Project (Project). The purpose of the Project is to rehabilitate the Sand Hilt Lake <br /> outlet, and to repair the dam section damaged from a sink hole that developed in January 2014. The <br /> total Project cost is estimated to be $820,000. The Company is requesting a loan from CWCB for 90% of <br /> the Project Cost. See attached Project Data Sheet for a location map and Project summary. <br /> Staff Recommendation (Board Approved Staff Recommendation on November 20, 2014) <br /> Staff recommends the Board approve a loan not to exceed $745,380 ($738,000 for Project costs and <br /> $7,380 for the 1% service fee) to the Platte Valley Irrigation Company for engineering and construction <br /> costs related to the Sand Hill Lake Outlet Works Rehabilitation Project from the Severance Tax <br /> Perpetual Base Fund, up to the approved loan amount. The loan terms shall be 30 years at the <br /> agricultural interest rate of 2.0% per annum. Security for the loan shall be in compliance with CWCB <br /> Financial Policy#5. <br /> /OF'COt� <br /> Interstate Compact Compliance •Watershed Protection • Flood Planning&Mitigation • Stream&Lake Protection dal f �o- <br /> Water Project Loans&Grants • Water Modeling• Conservation&Drought Planning •Water Supply Planning ; #r <br /> 1A7 ,• <br />