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CT2017-3641 Approval Letter
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CT2017-3641 Approval Letter
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Last modified
6/20/2017 11:46:51 AM
Creation date
3/24/2017 12:37:58 PM
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Loan Projects
Contract/PO #
CT2017-3641
Contractor Name
North Poudre Irrigation Company
Contract Type
Loan
Loan Projects - Doc Type
Approval Letter
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COLORADO 1313 Sherman Street John Hickenlooper, Governor <br /> Denver, CO 80203 <br /> 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 <br /> DATE: March 22-23, 2017 Board Meeting (Updated March 23, 2017) <br /> AGENDA ITEM: 28a. Water Project Loans <br /> North Poudre Irrigation Company - Mountain Supply Reservoir No. 10 Repairs <br /> Introduction <br /> The North Poudre Irrigation Company (Company) is applying for a loan for the Mountain Supply Reservoir <br /> No. 10 Repairs (Project). The purpose of the Project is to restore full function to the reservoir by <br /> performing repairs to the inlet piping, grading within the reservoir, and repairing the outlet works intake <br /> structure and conduit. The estimated cost of the Project is $495,000. The Company is requesting a loan <br /> from the CWCB to cover 100% of Project Costs. See attached Project Data Sheet for the location map <br /> and Project Summary. <br /> Staff Recommendation (Board approved Staff Recommendation on March 23, 2017) <br /> Staff recommends the Board approve a loan not to exceed $499,950 ($495,000 for Project costs and <br /> $4,950 for the 1% Loan Service Fee) to the North Poudre Irrigation Company for the Mountain Supply <br /> Reservoir No. 10 Repairs Project from the Severance Tax Perpetual Base Fund. Loan terms shall be 30 <br /> years at the blended rate of 2.50% per annum. Security for the loan shall comply with CWCB Financial <br /> Policy#5. <br /> Interstate Compact Compliance •Watershed Protection . Flood Planning Et Mitigation • Stream Et Lake Protection a � ` <br /> Water Project Loans Et Grants •Water Modeling • Conservation Et Drought Planning • Water Supply Planning <br />
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