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DNR COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> Denver, CO 80203 <br /> CO i 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: Jonathan Hernandez, P.E., Project Manager . 2, <br /> Kirk Russell, P.E., Finance Section Chief VGA <br /> DATE: September 21-22, 2016 Board Meeting (Updated September 22, 2016) <br /> AGENDA ITEM: 16a. Water Project Loans <br /> Larimer and Weld Irrigation Company - Headgate Structure Replacement <br /> Introduction <br /> The Larimer and Weld Irrigation Company (Company), is applying for a loan for the Headgate Structure <br /> Replacement (Project). The Company's diversion off the Cache la Poudre River is aging and in need of <br /> repair. This Project will focus on replacing the headgate component of the diversion, including the <br /> concrete structure, gates, and gate operators, as this component is the top priority. The replacement <br /> of the other diversion components are not a part of this Project but are planned to take place within <br /> the next few years. The estimated Project cost is $750,000. The Company is requesting a loan from the <br /> CWCB for 90% of the Project costs. See attached Project Data Sheet for a location map and Project <br /> summary. <br /> Staff Recommendation (Board approved Staff Recommendation on September 21, 2016) <br /> Staff recommends the Board approve a loan not to exceed $681,750 ($675,000 for Project costs and <br /> $6,750 for the 1% service fee) to the Larimer and Weld Irrigation Company, for costs related to the <br /> Headgate Structure Replacement Project, from the Construction Fund. The loan terms shall be 30 years <br /> at a blended interest rate of 1.50% per annum. Security for the loan shall be in compliance with CWCB <br /> Financial Policy#5. <br /> • OF'C�Cp <br /> sfy- <br /> Interstate Compact Compliance •Watershed Protection • Flood Planning Et Mitigation • Stream a Lake Protection ! o\ <br /> Water Project Loans a Grants •Water Modeling • Conservation a Drought Planning • Water Supply Planning <br /> t r/ <br /> • X876 <br />