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<br />. <br /> <br />. <br /> <br />t <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />721 Centennial Building <br />1 31 3 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (3031866.3441 <br />FAX: (3031 866-4474 <br /> <br />STATE OF COLORAJ)O <br /> <br />~ <br /> <br />Roy Romer <br />Governor <br /> <br />MEMORANDUM <br /> <br />J<lmes S. Lochhead <br />Executive Director, DNR <br /> <br />Oilries C. lile, P.E. <br />Director, eWeB <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Bill Stanton, P .E., Chief, Project Planning and Construction Section~' <br />Mike Serlet, P.E., Project Design and Construction Engineer <br />Bill Green, P.E., Project Planning EngineerW <br /> <br />July 9, 1998 <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Agenda Item 16.b., July 13-14, 1998, Board Meeting- <br />Water Project Construction Loan Program - Changes in Existing Projects- <br />Pinon Mesa Ranches Community Association - Rural Raw Water System <br /> <br />Introduction <br /> <br />This item is presented to update the Board on the current situation with respect to the Pinon Mesa <br />Ranches Community Association's (PMRCA) raw water project and to request some <br />clarification from the Board as to the conditions for disbursement of additional funds. <br /> <br />Background <br /> <br />A special teleconference Board meeting was held June 16, 1998 to discuss the circumstances <br />surrounding the existing Construction Fund loan for the PMRCA which currently consists of 13 <br />year-round residences of which eight have paid in full for a tap fee. <br /> <br />Very briefly, the total estimated cost of the project has increased from $275,00 to about $344,000. <br />The project is 70 percent complete with all costs to date (about $213,000) paid by the CWCB and . <br />the contractor, RMI Environmental Services of Farmington, New Mexico. The project sponsor has <br />very little cash available to invest in the project. The CWCB has now paid $l73,000 in construction <br />costs to PMRCA. <br /> <br />The Board approved the staff recommendations made at the June 16 meeting with regard to <br />increasing CWCB involvement in the project. The Board instructed the staff to begin negotiations <br />with RMI and the PMRCA to re-structure the project financial plan, draft a three party agreement <br />between PMRCA, R1\1I, and the CWCB and to amend the loan contract. <br />