CT2017-3641 Approval Letter - Laserfiche WebLink

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North Poudre Irrigation Company Agenda Item 28a March 22-23, 2017 Board Meeting(Updated March 23, 2017) Page 2 of 6 Background The Company's service area encompasses approximately 300 square mites, and includes service to 14 communities and municipal water providers that own Company shares. The Company operates 22 storage reservoirs, 5 flood control dams, and approximately 200 miles of ditches. Irrigated acreage within the service area supports production of corn, sugar beets, soybeans, hay, and feed crops. Mountain Supply Reservoir No. 10, owned and operated by the Company, was constructed in 1905, and a major rehabilitation of the dam was completed in 1973. The Company has a storage decree in this reservoir of 344 acre-feet. The reservoir is an off-stream reservoir with a drainage basin of approximately 0.14 square miles. The reservoir is fed by the Upper 10 Ditch, which is in turn fed by numerous other ditches in the Company's system, the ultimate source of the water being the North Fork of the Cache to Poudre River and the Cache la Poudre River itself. In August of 2015, the outlet works experienced a failure in the corrugated metal pipe (CMP) outlet tube downstream of the intake headgate. The reservoir was drained. A subsequent storage restriction by the State Engineer's Office (SEO) was put in place while the Company made temporary repairs. Due to the temporary nature of the repairs, the Company was only permitted to store 80 acre-feet, pending comprehensive repairs to the outlet works. Further engineering investigations found need for additional reservoir infrastructure repairs, including repairs to the headgate and inlet structure from the ditch to the reservoir, grading in the bottom of the reservoir from inlet to outlet, and changes to the outlet works. Loan Feasibility Study Tara Schutter, P.E. of Tessara Water, LLC prepared the Loan Feasibility Study titled "Feasibility of North Poudre Irrigation Company Mountain Supply Reservoir No. 10 Repairs", dated January of 2017. The study includes an analysis of alternatives, preliminary engineering design, and cost estimates. The study was prepared in accordance with CWCB guidelines. Borrower- North Poudre Irrigation Company The Company is a Mutual Ditch Company established in 1901. It is a nonprofit corporation and is in good standing with the Colorado Secretary of State. The Company's office is located in Wellington. The Company has issued 10,000 shares of stock and currently has 570 shareholders. Company revenues derive primarily from assessments charged on shares of stock owned by the stockholders. The Company also receives revenues from recreational leases, and annual payments from the City of Fort Collins for the sale of Halligan Reservoir. The Company's by-laws empower the Board of Directors to take on debt for the uses, needs, and demands of the Company, and to set assessments accordingly. The Board has the authority to enforce assessments, including suspending water deliveries and sale or forfeiture of shares for failure to pay assessments. The Board proposes assessments that are ratified by the stockholders. Water Rights The Company's 22 reservoirs have a combined 220,000 acre-feet of storage, which are used for a variety of trades and exchanges to deliver water within the Company's service area. Mountain Supply Reservoir No. 10 (also known as Railroad Reservoir No. 3) has the decreed water rights shown in Table 1 below.