C150321 Reallocation Memo 011813

• Contract/PO #: CT2015-055
• Contract/PO #: C150321
• Contractor Name: Georgetown, Town of
• Contract Type: Loan
• Water District: 7
• County: Clear Creek
• Loan Projects - Doc Type: Contract Documents

STATE OF COLORADO
Colorado Water Conservation Board
pF Ol �i
Department of Natural Resources
1313 Sherman Street,Room 721
Denver,Colorado 80203
Phone:[phone]
Fax:[phone] +'.g 6 .
www.cwcb.state.co.us
John W.Hickenlooper
Governor
TO: Colorado Water Conservation Board Members
Mike King
DNR Executive Director
FROM: Anna Mauss, P.E., Project Manager
Kirk Russell, P.E. Chief 04- Jennifer L.Gimbel
P.E., CWCB Director
Finance Section
DATE: January 18, 2013 (Updated January 30,2013)
SUBJECT: Consent Agenda Item 4a,January 28-29,2013 Board Meeting
Finance—Changes to Existing Loans
Town of Georgetown—Outlet Works Modification Project
At the July 2011 Board meeting,the Town of Georgetown(Town)was approved for a$2,976,975
loan for the Outlet Works Modification Project(Project). The purpose of the Project is to increase
the outlet capacity at Georgetown Lake dam so the Town can release water in accordance with its
augmentation plan.
The Town has an agreement with the City of Black Hawk that allows Black Hawk storage capacity
in the Lake. At the time of the loan approval the Town was negotiating with Black Hawk to have
Black Hawk contribute a portion of the Project costs. The final agreement regarding the
contribution was reached in December of 2012 and Black Hawk has agreed to pay 50%of the
design and construction costs of the Project.
With this new agreement approximately $1,474,000 of the loan funds will not be used for the outlet
works. It would like to reallocate a portion of the CWCB loan towards 500 new residential water
meters. The Town estimates that the new meters will cost$420/each plus $55/meter for
installation. Up to an additional $150,000 is estimated for commercial meters. The total meter
installation costs would be approximately $387,500.
Staff Recommendation(Board Approved Staff Recommendation on January 29,2013)
Staff recommends allowing the Town to use Project funds for the purchase and installation of water
meters as allowed in C.R.S. 37-60-119.
cc: Tom Hale, Town Administrator, Town of Georgetown
Interstate Compact Compliance•Watershed Protection•Flood Planning&Mitigation•Stream&Lake Protection
Water Project Loans&Grants•Water Modeling•Conservation&Drought Planning•Water Supply Planning