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2, Proj ects or importance, Feasibility studies and demonstration projects that are designed to answer questions related to statewide water issues or have significant potential to result in loans from either the Construction Fund or the Severance Tax Trust Fund Perpetual Base Account studies of statewide impact or .-J e POLICY NUMBER: 14 SUBJECT: APPROVAL AND PRIORITIZATION OF CONSTRUCTION FUND APPLICATIONS FOR NON-REIMBURSABLE PROJECT INVESTMENTS EFFECTNE DATE: January 24,2001 POLICY: The Colorado Water Conservation Board (CWCB) will accept applications for non-reimbursable project investments from the Construction Fund until August 31 of each year. Applications for non-reimbursable project investments from the Construction Fund will be accepted for the following types of projects only: L e The CWCB may, in any year, recommend approval to the General Assembly of any project in the above categories that the Board deems worthy of funding through non-reimbursable investments. In order to protect the long-term integrity of the Construction Fund, Construction Fund loan applications are preferred over non- reimbursable investment applications, Approximately 10% of the annual funds available for non- reimbursable investments will be set aside for feasibility studies and demonstration projects. Feasibility study and demonstration project investments will be limited to 50% of the total study or project cost, up to a maximum of $100,000, The project applicant must have completed a fully executed non-reimbursable investment funding contract with the CWCB within 2 years of the investment authorization by the General Assembly, or the Board will consider de-authorization of the investment PURPOSE: To establish an approval and prioritization process for non- reimbursable investments from the Construction Fund, APPLICABILITY: This policy and procedure apply to applications for non- reimbursable investments from the Construction Fund,