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D N R,%' <br />��� � <br />Cd ar <br />• • ' . ! • <br />Colorado Water <br />Conservation Board <br />DepartRzent af Naturai Resources <br />1313 Sherrnan Street <br />Denver, CO 80203 <br />P {303) 866•3441 <br />F (303) 666-4A7A <br />T0: Co�orado Water Conservation Board Members <br />FROM: Anna Mauss, P.E., Praject Manager � <br />Kirk Russell, P.E., Finance Settion Chief �iG' <br />John Hickentooper, Gavemor <br />Robert RandalE, �NR Executive Director <br />Lauren Ris, tWCB Acting Oirector <br />DATE: May 17-18, 2017 Board Meeting (Updated May 19, 2017) <br />AGENDA ITEM: 28b. Change to Existing Loans <br />Grand Mesa Water Conservancy District Peak Reservoir and Blanche Park <br />Reservoir Rehabilitation Project <br />Introduction <br />The Grand Mesa Water Conservancy District (District), acting by a�d through its water activity <br />enterprise, reteived approval of a$227,250 loan Contract No. CT2015•061 (C150354) for the Peak <br />Reservoir and Blanche Park Reservoir Rehabilitation Project (Project} at the May 2013 Board meeting. <br />The originat loan was for 35% of the total Project cost. ihe original estimated cost was 5640,000. As a <br />result of permitting delays, the current co5t estimate is S723,471. The District is requesting a loan <br />increase of 575,750 (including the toan service fee) which will cover approximately 47� of Project <br />costs. See attached Project Data Sheet for a tocation map and a Project summary. <br />Staff Recommendation (Board approved Staff Recommendation on May 18, 2017) <br />Staff recommends the Board approve a loan increase not to exceed $75,750 �$75,000 for Project costs <br />and $75� for the 196 service fee) to the Grand Mesa Water Canservancy District, acting by and through <br />its water activity enterprise, for costs related ta the Peak Reservoir and Blanche Park Reservoir <br />Rehabilitation Project, from the Construction Fund. The total loan amount wilt become $303,000 <br />($300,000 for Project costs and S3,000 for the 196 service fee}. The loan terms shall remain 20 years at <br />a blended interest rate of 1.55% per annum. Security for the toan shall remain a pledge of water <br />activity enterprise revenues backed by a rate covenant, in compliance with CWCB Financial Policy #5. <br />Interstate tumpac[ Compliance • Watershed Protection • Ftood Planning & Mitigation • Siream & take Protection <br />Water Project Loans & Grants • Water Modeling • tonservation 8 Drought Planning • Water Suppty Planning <br />oF co� <br />��' � <br />�e, : w <br />Ni �� <br />.�, • "- +; <br />r.,`;�_ �w, <br />�1876� <br />