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Project Summary— Prairie Ditch Company <br /> SECTION 1 -BORROWER INFORMATION <br /> Name: Prairie Ditch Company <br /> Type of Entity: a Colorado nonprofit corporation <br /> Address: 5250 N. Hwy 17, Mosca, CO, 81146 <br /> Contact: LaVern Hart, President <br /> Phone Number: 719-378-2209 <br /> E-mail address: prairieditch @gmail.com <br /> SECTION 2—PROJECT DESCRIPTION <br /> A. Description of PROJECT: The BORROWER applied to the CWCB for a loan to be <br /> used for the Plaza Project Phase 3: Prairie Ditch Implementation Project <br /> ("PROJECT") to improve the existing Prairie Ditch diversion structure and headgate <br /> on the Rio Grande River, located in Rio Grande County, hereinafter referred to as <br /> the PROJECT, at a total estimated project cost of$975,000. <br /> B. Description of Feasibility Study: The CWCB has reviewed a feasibility study <br /> report dated February 1, 2014 on the PROJECT, titled "Feasibility Study, The Plaza <br /> Project-Phase 3: Prairie Ditch Implementation Project,"which was prepared by the <br /> Rio Grande Headwaters Restoration Project and the Natural Resources <br /> Conservation Service (NRCS) and is incorporated herein by reference. Based <br /> upon the feasibility report, the CWCB determined the PROJECT to be technically <br /> and financially feasible. <br /> SECTION 3—CWCB's AUTHORITY <br /> Construction Fund: This loan is made pursuant to the provisions of§§ 37-60-119 <br /> and 37-60-120, C.R.S., which authorize the CWCB to loan money for water <br /> projects from the CWCB Construction Fund for the benefit of the people of the <br /> state, provided that the borrower assures repayment of that money. <br /> Section 37-60-122(1)(b) C.R.S., authorizes the CWCB to make loans of up to <br /> $10,000,000 from the CWCB's Construction Fund without prior approval from the <br /> General Assembly. <br /> SECTION 4-BOARD APPROVAL <br /> At its May 22, 2014 meeting the CWCB approved a Small Project Loan, from the <br /> Construction Fund to the BORROWER, in an amount up to $130,000 for PROJECT <br /> costs, with a loan service fee of 1% in accordance with CWCB Policy No. 16, <br /> resulting in a loan service fee of$1,300 and a total loan amount of$131,300 at an <br /> interest rate of 1.25% per annum for a repayment term of 10 years. <br /> Appendix 1 <br /> Page 1 of 4 <br />