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DNR COLORADO <br /> 413 <br /> CO Colorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> May 23, 2016 <br /> Gary Alles, President <br /> Union Well Augmentation Group, Ltd. <br /> 3005 W. 29th Street, Suite G1 <br /> Greeley, CO 80632 <br /> Re: Union Reservoir Water Rights Purchase <br /> Mr. Alles: <br /> I am pleased to inform you that on May 18, 2016, the Colorado Water Conservation Board approved your <br /> loan request for the Union Reservoir Water Rights Purchase as described in the application and <br /> approved Loan Feasibility Study titled "Feasibility Study for the Purchase of Union Reservoir Company <br /> Shares for Augmentation Use"dated September 2015. The Board approved a loan not to exceed <br /> $248,157 ($245,700 for Project costs and $2,457 for the 1%service fee). The loan terms shall be 1.45% <br /> per annum for 20 years. <br /> I have attached a copy of the updated Board memo dated May 20, 2016 that includes the Board's <br /> approval. After the Board approves a loan there are a few steps that remain in the loan process including: <br /> Contracting: An executed loan contract must be in place before funds can be disbursed for eligible <br /> project expenses. Peg Mason, Loan Contracts Manager, will contact you to initiate the loan contracting <br /> process. She can be reached at (303) 866-3441 x3227. <br /> Design/Construction: You must adhere to the CWCB Design and Construction Administration Procedures <br /> including an invitation to the Prebid, Preconstruction and Bid Opening meetings. Jonathan Hernandez, <br /> P.E., will be the Project Manager for this phase of the process and will work with you on the disbursements <br /> of your loan funds. He can be reached at (303) 866-3441 x3234. <br /> On behalf of the Board, I would like to thank you for your interest in a loan from the CWCB. <br /> Sincerely, <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> c4 cot - <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> John W. Hickenlooper, Governor I Robert Randall, Interim DNR Director I James Eklund, CWCB Director *. <br /> .•; /* <br /> ',/876`' <br />