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<br />Director's Report <br />January 27,1998 <br />Page 2 of 2 <br /> <br />,- <br /> <br />The FY1998 capitalization grant is expected to be $10.9 million. At this time, plans are to <br />transfer $8,0 million of this WPCRF grant to the Drinking Water SRF. The remaining $2.9 <br />million would result in cumulative grants to the WPCRF of $115.5 million. After the <br />execution of the above loans, the loan capacity of the WPCRF would be about $60 million. <br /> <br />Drinking Water Revolving Fund <br /> <br />Staff is working on an April bond issue to fund $16,5 million in loans to Fort Morgan ($15.2 <br />million) and Buena Vista ($1.4 million). A direct loan is being considered for Mount Werner <br />WSD ($500,000). With these loans the total loan pool would be $49 million. <br /> <br />The joint resolution (HJR98-1 007), adding and deleting projects, has been introduced. The <br />resolution will add 19 projects and delete 68 projects. The resulting eligibility list will have <br />190 projects representing over $320 million in funding needs. <br /> <br />The FY1998 capitalization grant for the DWRF is expected to be $9.6 million. Of this ,~. <br />amount about $2 million will be used for set-asides. The remaining $7.6 million along with <br />the transfer of the $8 million from the WPCRF capitalization grant would result in a <br />cumulative grant pool of $28.9 million. With the execution of the above loans, the loan <br />capacity of the DWRF would be $35 million, ' <br /> <br />Authority <br /> <br />Ann Nichols, Finance Director for Colorado Springs Utilities, has been nominated by the <br />Governor to succeed Alan Hamel. Tom Sharp, attorney from Steamboat Springs, has been <br />reappointed by the Governor. Confirmation hearings are pending. <br /> <br />Future Board Meetings <br /> <br />February 6 - Denver <br />March 27 - Denver <br /> <br />~ <br />