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DN COLORADO <br /> AtA <br /> CO Colorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> November 18, 2016 <br /> Ms. Julie Pasillas, Resource & Sustainability Coordinator <br /> Town of Firestone <br /> 151 Grant Avenue <br /> Firestone, CO 80520 <br /> Re: Storage Development and Water Rights Purchase <br /> Ms. Pasillas: <br /> I am pleased to inform you that on November 16, 2016, the Colorado Water Conservation Board approved <br /> your loan request for the Storage Development and Water Rights Purchase as described in the <br /> application and approved Loan Feasibility Study titled "CWCB Feasibility Study for the Town of <br /> Firestone Carbon Valley Resource Pit"dated October 2016. The Board approved a loan not to exceed <br /> $10,000,000 ($9,900,990 for Project costs and $99,010 for the 1%service fee). The loan terms shall be <br /> 2.35% per annum for 20 years. <br /> I have attached a copy of the updated Board memo dated November 17, 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. Derek Johnson, P.E., will <br /> be the Project Manager for this phase of the process and will work with you on the disbursements of your <br /> loan funds. He can be reached at (303) 866-3441 x3254. <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 /> E-mail Copy (Including Attachments): Jim Yahn, CWCB Board Member - South Platte River Basin <br /> o c,oz <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us o` <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director *, * <br /> /876 <br />