CT2016-2794 Approval Letter - Laserfiche WebLink

Home Browse Search

DNR COLORADO 1313 Sherman Street John Hickenlooper, Governor Denver, CO 80203 CO Colorado Water Mike King, DNR Executive Director Conservation Board P (303)866-3441 Department of Natural Resources F(303)866-4474 James Eklund, CWCB Director TO: Colorado Water Conservation Board Members FROM: Jonathan Hernandez, P.E., Project Manager Kirk Russell, P.E., Finance Section Chief ‘61.2-- DATE: 6GvZDATE: January 25-26, 2016 Board Meeting (Updated January 27, 2016) AGENDA ITEM: 18b. Water Project Loans Lake McIntosh Reservoir Company - Lake McIntosh Outlet Works Repair Introduction The Lake McIntosh Reservoir Company (Company) is applying for a loan for the Lake McIntosh Outlet Works Repair (Project). In May 2015, a section of the Lake McIntosh's outlet pipe collapsed, creating a sink hole and rendering the outlet works nonfunctional. The purpose of the Project is to restore Lake McIntosh's functionality by repairing the damaged outlet pipe. The total Project cost is estimated to be $1,900,000. The Company is requesting a loan from CWCB for approximately 90% of the Project Cost. See attached Project Data Sheet for a location map and Project summary. Staff Recommendation (Board approved Staff Recommendation on January 26, 2016) Staff recommends the Board approve a loan not to exceed $1,727,100 ($1,710,000 for Project costs and $17,100 for the 1% service fee) to the Lake McIntosh Reservoir Company for costs related to the Lake McIntosh Outlet Works Repair Project from the Construction Fund. The loan terms shall be 30 years at a blended interest rate of 2.70% per annum. Security for the loan shall be in compliance with CWCB Financial Policy#5. Ot•(OO Interstate Compact Compliance •Watershed Protection • Flood Planning a Mitigation • Stream a Lake Protection Water Project Loans a Grants •Water Modeling • Conservation a Drought Planning • Water Supply Planning , *; 87b.*