CT2018-892 Approval Letter

• Contract/PO #: CT2018-892
• Contractor Name: Wiggins, Town of
• Contract Type: Loan
• Loan Projects - Doc Type: Approval Letter

COLORADO 1313 Sherman Street John Hickenlooper, Governor
AVColorado Water Denver, CO 80203
Robert Randall, DNR Executive Director
Conservation Board P [phone]
Department of Natural Resources F(303) 866-4474 James Eklund, CWCB Director
TO: Colorado Water Conservation Board Members
FROM: Jonathan Hernandez, P.E., Project Manager
Kirk Russell, P.E., Finance Section Chief
DATE: March 22-23, 2017 Board Meeting (Updated March 23, 2017)
AGENDA ITEM: 28b. Water Project Loans
Town of Wiggins - Wiggins Recharge Facility at Glassey Farms
Introduction
The Town of Wiggins (Town), acting by and through its water activity enterprise, is applying for a loan
for the Wiggins Recharge Facility at Glassey Farms (Project). The purpose of the Project is to reduce
the Town's reliance on leased water and shore up its water supply for current and future demands by
developing an augmentation water source by purchasing the Glassey Farm and associated water rights.
Developing recharge ponds at the Glassey Farm will help ensure the Town can continue to draw from
its South Platte Alluvial Aquifer wells. The Town is seeking a CWCB loan to cover 100% of Project costs
which is estimated at $2,385,000. See attached Project Data Sheet for a location map and Project
summary.
Staff Recommendation (Board approved Staff Recommendation on March 23, 2017)
Staff recommends the Board approve a loan not to exceed $2,408,850 ($2,385,000 for Project costs and
$23,850 for the 1% service fee) to the Town of Wiggins, acting by and through its water activity
enterprise, for costs related to the Wiggins Recharge Facility at Glassey Farms Project, from the
Severance Tax Perpetual Base Fund. The loan terms shall be 30 years at the municipal low income
interest rate of 2.40% per annum. Security for the loan shall be in compliance with CWCB Financial
Policy#5.
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Interstate Compact Compliance •Watershed Protection • Flood Planning E Mitigation Stream 8 Lake Protection U'
Water Project Loans Et Grants •Water Modeling• Conservation Et Drought Planning •Water Supply Planning * *'
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