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AVCOLORADO <br /> Colorado Water <br /> Conservation Board <br /> Department of Natural Resources <br /> 1313 Sherman Street, Room 718 <br /> Denver, CO 80203 <br /> March 23, 2017 <br /> Paul Cyphers, Treasurer <br /> Big Elk Meadows Association <br /> P.O. Box 440 <br /> Lyons, CO 80540 <br /> Re: Emergency Raw Water Storage Reconstruction - Loan Increase <br /> Contract No. CT2015-039 (C150391) <br /> Mr. Cyphers: <br /> I am pleased to inform you that on March 23, 2017, the Colorado Water Conservation Board approved a <br /> loan increase for the Emergency Raw Water Storage Reconstruction of $505,000.00 (500,000.00 for <br /> Project costs and $5,000.00 for the 1% Loan Service Fee) for a total loan amount not to exceed <br /> $2,020,000.00 ($2,000,000.00 for Project costs and $20,000.00 for the 1% Loan Service Fee). The loan <br /> terms were changed to 0% per annum for 6 years, followed by 2.75% per annum for 30 years. <br /> I have attached a copy of the updated Board memo dated March 23, 2017 that includes the Board's <br /> approval. <br /> As you are aware, an amended contract must be in place before the additional funds can be disbursed. Peg <br /> Mason, Loan Contracts Manager, will initiate the loan amendment process. You can contact Peg at (303) <br /> 866-3441 x 3227 regarding the status of the amendment. <br /> On behalf of the Board, I would like to thank you for your interest in a CWCB loan for this valuable <br /> project. <br /> Sincerely, <br /> Kirk Russell, P.E., Chief <br /> Finance Section <br /> Attachment: Updated Board Memo <br /> i O- C,- <br /> P 303.866.3441 F 303.866.4474 www.cwcb.state.co.us <br /> John W. Hickenlooper, Governor I Robert Randall, DNR Executive Director I James Eklund, CWCB Director <br />