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A D N R COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> a'A Denver, CO 80203 <br /> CO 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: Derek Johnson, P.E., Project Manager --- <br /> y'` <br /> Kirk Russell, P.E., Finance Section Chief)110a— <br /> DATE: September 15-17, 2015 Board Meeting (Updated September 18, 2015) <br /> AGENDA ITEM: 23a. CWCB Loan and WSRA Grant <br /> Fort Lyon Canal Company - Replacement of the Horse Creek Flume <br /> Introduction <br /> The Fort Lyon Canal Company (Company) is applying for a loan for the construction of the Replacement <br /> of the Horse Creek Flume (Project). The purpose of the Project is to ensure continued deliveries to <br /> downstream users by replacing the aging Horse Creek Flume structure. The total Project cost is <br /> estimated at $2,188,000. <br /> In June of 2015, the Company was recommended for a $450,000 Statewide Grant and a $50,000 Basin <br /> Grant by the Arkansas Basin Roundtable from the Water Supply Reserve Account (WSRA) which would <br /> cover 23% of Project costs. The Company is requesting a loan from the CWCB to cover 74% of Project <br /> costs, and remaining costs are to be covered by Company funds. See attached Project Data Sheet for a <br /> location map and a Project summary. <br /> Staff Recommendation for WSRA Grant (Board approved Staff Recommendation on September 17, <br /> 2015) <br /> Staff recommends approval of up to $450,000 from the Statewide Account and $50,000 from the <br /> Arkansas Basin Account to the Fort Lyon Canal Company to fund the Replacement of the Horse Creek <br /> Flume project. <br /> Staff Recommendation for CWCB Loan (Board approved Staff Recommendation on September 17, <br /> 2015) <br /> Staff recommends the Board approve a loan not to exceed $1,629,130 ($1,613,000 for Project costs and <br /> $16,130 for the 1% Loan Service Fee) to the Fort Lyon Canal Company for the Replacement of the Horse <br /> Creek Flume Project from the Severance Tax Perpetual Base Fund. Loan terms shall be 30 years at a <br /> blended rate of 1.75% per annum. Security for the loan shall be in compliance with CWCB Financial <br /> Policy#5. <br /> �w oF.coin\ <br /> Interstate Compact Compliance • Watershed Protection • Flood Planning a Mitigation • Stream a Lake Protection F� "r ' <br /> Water Project Loans a Grants •Water Modeling• Conservation a Drought Planning•Water Supply Planning I '*1�,`' '� <br /> wrii <br /> *1876*/ <br />