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DNR COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> Denver, CO 80203 <br /> CO Colorado Water Robert Randall, 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 /> Kirk Russell, P.E., Finance Section Chief Ir✓L���' <br /> DATE: July 20-21, 2016 Board Meeting (Updated July 22, 2016) <br /> AGENDA ITEM: 13b. Water Project Loans <br /> North Poudre Irrigation Company - Rehabilitation of the Livermore Irrigation <br /> Tunnel <br /> Introduction <br /> The North Poudre Irrigation Company (Company) is applying for a loan for the Rehabilitation of the <br /> Livermore Irrigation Tunnel (Project). The purpose of the Project is to restore overall delivery capacity <br /> of the Livermore tunnel system, which has been damaged by partial collapse in multiple reaches, <br /> resulting in blockages and the accumulation of rock fall and debris. Repairs are to be made to six <br /> collapse zones, and, proactively, to an additional ten shear and void areas. The estimated cost of the <br /> Project is $1,597,000. The Company is requesting a loan from the CWCB to cover 90% of Project Costs; <br /> remaining costs will be covered by Company funds. See attached Project Data Sheet for the location <br /> map and Project Summary. <br /> Staff Recommendation (Board approved Staff Recommendation on July 20, 2016) <br /> Staff recommends the Board approve a loan not to exceed $1,451,673 ($1,437,300 for Project costs and <br /> $14,373 for the 1% Loan Service Fee) to the North Poudre Irrigation Company for the Rehabilitation of <br /> the Livermore Irrigation Tunnel Project from the Construction Fund. The loan terms shall be 30 years at <br /> the blended rate of 2.25% per annum. Security for the loan shall comply with CWCB Financial Policy #5. <br /> t ofcote, <br /> Interstate Compact Compliance •Watershed Protection • Flood Planning ft Mitigation • Stream a Lake Protection er C yo`, <br /> Water Project Loans&Grants •Water Modeling • Conservation a Drought Planning •Water Supply Planning *v\ *; <br />