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. . ~ (2) Repairs and rehabilitation: Rio Grande Overland Waneka Groundhog cossil Creek Beeman $ 1,135,000 858,000 619,000 125,000 2,057,000 110,000 ~4,904,000 $42,374,000 TOTAL The Overland and Waneka projects are listed under both categories because they encompass the repair of existing dams as well as provision for new capacity at those reservoirs. Thus, total construction costs have been allocated between the two functions. Recommendations 1. With respect to the Erie, Craig, Waneka Reservoir, Groundhog Reservoir, Fossil Creek Reservoir, and 'Beeman IrrIgation Company projects, all of which are proposed for authorization on a 50 percent cost-sharing basis, the staff recommends that these projects be recommended to the General Assembly for authorization under the terms set forth in the summary for each project. 2. With respect to the Fruitland-Mesa, Rio Grande Reservoir, and Overland Reservoir projects, whose sponsors are proposing financing terms not presently authorized by statute, it would appear that the Board has several options open to It: d. Decline to recommend the projects at all. b. Recommend the projects for 50 percent financing, with repayment of the Board's investment to be made (as presently required by statute). c. Recommend the projects for more than 50 percent financing, with repayment of the Board's investment to be made (possible under present law). d. Recommend the projects for 50 to 100 percent financing, with some portion of the Board's investment being non-reimburable. e. Forward the projects to the General Assembly for Its consideration without any recommendation from the Board. -2-