CT2017-914 Approval Letter

• Contract/PO #: CT2017-914
• Contractor Name: Dixon Canon Ditch and Reservoir Company
• Contract Type: Loan
• Loan Projects - Doc Type: Approval Letter

41/4 D N R COLORADO j 1313 Sherman Street John Hickenlooper, Governor
Denver,CO 80203
CO tif Colorado Water Robert Randall, Interim DNR
Conservation Board P [phone] Executive Director
. . F(303)866.4474
James Eklund, CWCB Director
TO: Colorado Water Conservation Board Members
FROM: Anna Mauss P.E., Project Manager
Kirk Russell, P.E., Finance Section Chief 1w Z`
DATE: May 18-19, 2016 Board Meeting (Updated May 20, 2016)
AGENDA ITEM: 21a. Water Project Loans
Dixon Canon Ditch and Reservoir Company - Dixon Reservoir Dam Improvements
Introduction
The Dixon Canon Ditch and Reservoir Company (Company) is applying for a loan for the Dixon Reservoir
Dam Improvement (Project). The Company intends to use loan funds to address dam seepage issues and
dam outlet repair improvements to avoid a storage restriction from the Dam Safety Branch of the State
Engineer's Office (SEO). The total Project cost is estimated to be $309,000. The Company is requesting
a loan from the 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 May 18, 2016)
Staff recommends the Board approve a loan not to exceed $280,881 ($278,100 for Project costs and
$2,781 for the 1% service fee) to the Dixon Canon Ditch and Reservoir Company for costs related to the
Dixon Reservoir Dam Improvement Project from the Construction Fund. The loan terms shall be 30
years at a blended interest rate of 2.55% per annum. Security for the loan shall be in compliance with
CWCB Financial Policy#5.
Interstate Compact Compliance •Watershed Protection • Flood Planning ft Mitigation • Stream 8 Lake Protection
Water Project Loans ft Grants•Water Modeling•Conservation ft Drought Planning •Water Supply Planning