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DNR COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> 413 Denver, CO 80203 <br /> CO i Colorado Water Mike King, DNR Executive Director <br /> Conservation Board P (303)866-3441 <br /> Department of Natural Resources F(303)866-4474 James Eklund, CWCB Director <br /> TO: Colorado Water Conservation Board Members <br /> FROM: Jonathan Hernandez, P.E., Project Manager <br /> Kirk Russell, P.E., Finance Section Chief 's <br /> DATE: September 15-17, 2015 Board Meeting (Updated September 18, 2015) <br /> AGENDA ITEM: 22c. Water Project Loans <br /> The Tunnel Water Company - Laramie-Poudre Tunnel Rehabilitation Project <br /> Introduction <br /> The Tunnel Water Company (Company) is applying for a loan for the Laramie-Poudre Tunnel <br /> Rehabilitation Project (Project). The Laramie-Poudre Tunnel diverts water from the Laramie River to <br /> the Cache la Poudre River and is integral to the Company's operation. The purpose of the Project is to <br /> extend the service life of the tunnel and improve maintenance access by rehabilitating the west and <br /> east tunnel portals. The total Project cost is estimated to be $1,225,000. The Company is requesting a <br /> loan from CWCB for approximately 90% of the Project Cost. See attached Project Data Sheet for a <br /> location map and Project summary. <br /> Staff Recommendation (Board approved Staff Recommendation on September 17, 2015) <br /> Staff recommends the Board approve a loan not to exceed $1,111,000 ($1,100,000 for Project costs and <br /> $11,000 for the 1% service fee) to the Tunnel Water Company for costs related to the Laramie-Poudre <br /> Tunnel Rehabilitation Project from the Construction Fund. The loan terms shall be 30 years at a <br /> blended interest rate of 2.55% per annum. Security for the loan shall be in compliance with CWCB <br /> Financial Policy#5. <br /> ov <br /> Interstate Compact Compliance •Watershed Protection • Flood Planning a Mitigation • Stream a Lake Protection N�w �' <br /> Water Project Loans a Grants • Water Modeling • Conservation a Drought Planning •Water Supply Planning <br /> \87s' <br />