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N R COLOR A DO 1313 Sherman Street John Hickenlooper,Governor <br /> Denver,CO 80203 <br /> CO G 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: Derek Johnson, P.E., Project Manager'00 <br /> Kirk Russell, P.E., Finance Section Chief ?"" <br /> DATE: November 19-20, 2014 Board Meeting (Updated November 21, 2014) <br /> AGENDA ITEM: 27e. - Water Project Loan <br /> West Reservoir and Ditch Company <br /> Repair of West Reservoir No.1 Outlet Works <br /> Introduction <br /> West Reservoir and Ditch Company (Company) is applying for a loan for the Repair of West Reservoir <br /> No.1 Outlet Works (Project). The Company is under a no-fill storage restriction due to deterioration of <br /> the outlet works conduit, which will need to be replaced, along with improvements including an intake <br /> structure for a manually-operated slide gate and trash racks, downstream stilling basin, and upstream <br /> riprap slope protection. The total Project cost is estimated at $471,577. The Company was awarded a <br /> WSRA grant of $225,658 at the September 2014 CWCB Board Meeting, contingent upon approval of a <br /> loan to cover the remaining $245,919 Project costs. <br /> The attached Project Data Sheet provides a location map and a Project summary. <br /> Staff Recommendation (Board Approved Staff Recommendation on November 20, 2014) <br /> Staff recommends the Board approve a loan not to exceed $248,378 ($245,919 for project costs and <br /> $2,459 for the 1% Loan Service Fee) from the Severance Tax Perpetual Base Fund to the West Reservoir <br /> and Ditch Company for costs associated with engineering and construction of the Repair of West <br /> Reservoir No.1 Outlet Works project. The loan terms shall be 30 years at the agricultural interest rate <br /> of 2.00% per annum. Security for the loan shall be in compliance with CWCB Financial Policy#5. <br /> Staff also recommends that no funds be disbursed until the Company prepares and records an easement <br /> encompassing the West Reservoir No. 1 high water limits and additional perimeter maintenance access. <br /> .of'C046 <br /> Interstate Compact Compliance •Watershed Protection • Flood Planning&Mitigation • Stream a Lake Protection �� ' <br /> Water Project Loans&Grants •Water Modeling • Conservation a Drought Planning •Water Supply Planning * *, <br /> */876* <br />