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-2 - <br /> recommend that the Board extend the project time limit for one year. The staff will • <br /> continue to review the project on an annual basis until a CWCB funding contract is fully <br /> executed or the Board has recommended de-authorization to the Legislature. <br /> Since these projects are all Small Project Loans, that is less than $5,000,000, and were <br /> authorized by the Board, the Board also has the authority to de-authorize them. <br /> Discussion <br /> As of November of this year, there are no authorizations for funding that are three years or <br /> more past the date of authorization and are not yet under contract. There is one project that is not <br /> past the three-year deadline, however the project sponsors are no longer interested in moving <br /> forward with a loan from the CWCB. Staff has evaluated each of the authorizations and discussed the <br /> status of the projects with the project sponsors and their consultants. The results of these evaluations <br /> along with the staff recommendations relative to extending project time limits are summarized in the <br /> following: <br /> a. Johnson and Edwards Ditch Company—Recharge and Augmentation Project - The CWCB <br /> approved a Construction Fund project loan of $132,500 to the Company in 2003 for the <br /> construction of 2 recharge ponds, drilling one recharge well, constructing a pipeline between <br /> the well and the ditch, and purchasing a share of reservoir water. The Company has since <br /> changed their recharge plan and has requested de-authorization of this loan (attached letter). <br /> Staff recommends that the Board consider de-authorization of this loan. <br /> Recommendation <br /> Staff recommends the Board approve de-authorization of the loan authorizations, as <br /> described above, and as shown in the attached spreadsheet. <br /> 11111 <br /> Flood Protection•Water Project Planning and Financing•Stream and Lake Protection <br /> Water Supply Protection•Conservation Planning <br />