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o M a COLORADO 1313 Sherman Street John Hickenlooper,Governor
<br /> at* Denver,CO 80203
<br /> Co Colorado Water Mike King,DNR Executive Director
<br /> Conservation Board P(303)866-3441
<br /> t,,,,,., ,, ;N;u„r,, _.>>,,,,«.,, F(303)866-4474 James Eklund,CWCB Director
<br /> TO: Colorado Water Conservation Board Members
<br /> FROM: Anna Mauss, P.E., Project Manager
<br /> Ben Wade, Water Conservation Coordinator
<br /> Kirk Russell, P.E., Finance Section Chief VI,”
<br /> DATE: January 26-27, 2015 Board Meeting (Updated January 28, 2015)
<br /> AGENDA ITEM: 18a - Water Project Loan and Water Efficiency Grant
<br /> City of Cortez-Water Meter Replacement Project
<br /> Introduction
<br /> The City of Cortez (City), acting by and through its water activity enterprise, is applying for a funding
<br /> package for the Water Meter Replacement Project (Project). The Project, with an estimated cost of
<br /> $1,200,000, will replace the City's manually-read water meters with electronic automated meters. The
<br /> funding package includes a CWCB loan for approximately 70%of the costs and a Water Efficiency Grant
<br /> for$50,000. In addition, the City is seeking a grant from the Department of Local Affairs Energy Impact
<br /> Assistance Fund. See attached Project Data Sheet for a location map and Project summary. Also see
<br /> attached Water Efficiency Grant application for further grant request details.
<br /> Staff Recommendation for CWCB Loan (Board Approved Staff Recommendation on January 27,
<br /> 2015)
<br /> Staff recommends the Board approve a loan not to exceed $858,500 ($850,000 for Project cost and
<br /> $8,500 for the 1%service fee)to the City of Cortez, acting by and through its water activity enterprise,
<br /> for engineering and construction costs related to the Water Meter Replacement Project from the
<br /> Construction Fund, up to the approved loan amount. The loan terms shall be 10 years at the reduced
<br /> low-income municipal interest rate of 2.1% per annum. Security for the loan shall be in compliance
<br /> with CWCB Financial Policy#5.
<br /> Staff Recommendation for Water Efficiency Grant (Board Approved Staff Recommendation on
<br /> January 27, 2015)
<br /> Staff recommends the Board approve a Water Efficiency Grant not to exceed $50,000 to the City of
<br /> Cortez, acting by and through its water activity enterprise, for the installation of Automated Meter
<br /> Reading (AMR) water meters related to the Water Meter Replacement Project.
<br /> Interstate Compact Compliance •Watershed Protection • Flood Planning Et Mitigation •Stream a Lake Protection
<br /> Water Project Loans It Grants•Water Modeling • Conservation Et Drought Planning•Water Supply Planning * .,�
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