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oR Coo L O RtA D O Continental Dam Spillway Restoration Project
<br /> CO Conservation Board Santa Maria Reservoir Company
<br /> Department of Natural Resources January 2015 Board Meeting
<br /> (Loan Increase)
<br /> L O A N D E T A I L S �`
<br /> Project Cost: $5,640,000 ,...-
<br /> CWCB Loan Increase(with Service Fee): $606,000 et
<br /> CWCB Loan (with Service Fee): $3,677,663 �''�
<br /> Loan Term and Interest Rate: 30 Years @ 1.75% 1 401
<br /> Funding Source: Construction Fund Vio,...
<br /> B O R R O W E R T Y P E �
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<br /> P R J E C T D E T A I L S t�
<br /> Project Type: Dam Rehabilitation t Moe'
<br /> Average Annual Delivery: 6,300 AF
<br /> Recovered Storage: 12,000 AF L 0 C A T I O N
<br /> County: Hinsdale £t Mineral
<br /> Santa Maria Reservoir Company owns and operates Water Source: North Clear Creek
<br /> Continental Reservoir (27,000 AF)and Santa Maria Drainage Basin: Rio Grande
<br /> Reservoir (43,500 AF), located in the Rio Grande River Division: 3 District: 20
<br /> Basin near Creede, Colorado. For the past 20 years,
<br /> Continental has been under a storage restriction due to seepage issues, limiting the storage to 15,000
<br /> AF. The purpose of this Project is to address seepage issues and repair the spillway Continental
<br /> Reservoir in order to lift the storage restriction. The Project was bid in March of 2014. Moltz
<br /> Constructors, Inc. of Cody, Wyoming was the selected contractor and construction began on the
<br /> spillway rehabilitation at Continental dam in May of 2014. Most of the spillway work was completed in
<br /> the summer of 2014. At the time of the bid open, the contractor's bid was higher than the estimate
<br /> used for funding purposes. The Company chose to move forward with the Project and agreed to work
<br /> with the contractor and engineer (URS/AECOM.) to further investigate the site conditions to see if a
<br /> more cost effective approach could achieve the desired result of addressing seepage, thereby allowing
<br /> the Company to store its full water rights decree. The increase in funds will be used to complete the
<br /> seepage work at the reservoir in 2015.
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