Laserfiche WebLink
- 2 - <br /> Discussion <br /> A <br /> • <br /> s of November of this year, there are four authorizations for loan funding that are <br /> Y g three <br /> years or more past the date of authorization and are not yet under contract. There is also one project <br /> that is not past the three-year deadline, however the project sponsors are no longer interested in <br /> moving forward with a loan from the CWCB. Staff has evaluated each of the authorizations and <br /> discussed the status of the projects with the project sponsors and their consultants. The results of these <br /> evaluations along with the staff recommendations relative to de-authorization and extending project <br /> time limits are summarized in the following: <br /> a. Supply Irrigating Ditch Company — Knoth Reservoir Dam Enlargement Project - The <br /> CWCB approved a March 26, 2003 Construction Fund project loan of$1,000,000 to the <br /> Supply Irrigating Ditch Company for the rehabilitation and enlargement of the Knoth <br /> Reservoir Dam. We have received a letter from the company (attached) stating that due <br /> to on-going unresolved technical issues the project has been delayed, but the Company <br /> requests that the loan authorization be.extended for another year. Staff recommends that <br /> the Board consider extending the authorization of this loan for one year. <br /> b. FL Gill H2O LLC — Groundwater Recharge and Well Augmentation Project — The <br /> CWCB approved a March 17, 2004 Severance Tax Trust Fund Perpetual Base Account <br /> project loan of$115,898 to the FL Gill H2O LLC to construct a groundwater recharge / <br /> wel ___•l entation project and purchase water rights. We have received a letter <br /> attached) om the LLC stating that they are no longer interested in pursuing the project <br /> wit__ WCB funds at this time. Staff recommends that the Board consider de-authorization <br /> of this loan. <br /> c. Ryan Gulch Reservoir Company — Ryan Gulch Reservoir Dam Rehabilitation Project — <br /> The CWCB authorized (1/29/1999), and the State Legislature approved a Construction <br /> Fund project loan of$317,500 to the Ryan Gulch Reservoir Company in SB�99-173 for <br /> the construction of a new spillway on the Ryan Gulch Dam. We have received a letter <br /> (attached) from the company stating that they have obtained alternate financing and are <br /> no longer interested in contracting for this CWCB loan. Staff recommends that the Board <br /> consider de-authorization of this loan. <br /> d. Tilton Lateral, Inc. — Tilton Lateral Rehabilitation Project—The CWCB approved a May <br /> 21, 2001 Construction Fund project loan of$100,000 for the rehabilitation of the Tilton <br /> Lateral, off of the Grand Valley Irrigation Company mainline canal, by replacing the <br /> ditch with a pressurized pipe system. The project costs have escalated to the point where <br /> the company board of directors has decided not to continue pursuing the projesi at this <br /> time (letter attached). Staff recommends that the Board consider de-authorization of this <br /> loan. <br /> e. Town of Coal Creek— Water Rights Purchase —The CWCB approved a March 26, 2003 <br /> Construction Fund loan of $68,175 to the Town of Coal Creek to purchase municipal <br /> water rights. We have received a letter (attached) from the Town stating that they are no <br /> longer interested in contracting for this CWCB loan. Staff recommends that the Board <br /> consider de-authorization of this loan. <br /> Flood Protection•Water Project Planning and Financing•Stream and Lake Protection <br /> Water Supply Protection•Conservation Planning <br />