BOARD00893

• Board Meeting Date: 11/20/2000
• Description: CF Section - Loan De-Authorization Review
• Board Meetings - Doc Type: Memo

Dis cuss i 0 nlRec 0 mmen da ti 0 ns

As of November of this year, there are sixteen authorizations for funding that are three years or .. ,
more past the date of authorization and are not yet under contract. Two of the sixteen projects are
from the Small Project Loan Account and the borrowers have determined that they no longer
require the authorized funding for their project. Staff has evaluated each of the other
authorizations and discussed the status of the projects with the project sponsors and their
consultants. The results of these evaluations along with the statI recommendations relative to
deauthorization are summarized in the following sections of this memo and in the attached
spreadsheet:

a) Cotton Creek Water Companv - Airline Ditch Rehabilitation Proiect - The CWCB
approved a Construction Fund Small project Loan of S 1 00,000 to the Cotton Creek Water
Company on March 20, 1997. The Company made improvements to the ditch with their own
funding, and does not need the CWCB loan.

Staff Recommendation - Staff recommends that the Small Project Loan to the Cotton Creek
Water Company be de-authorized by the CWCB at this time.

b) Citv of Craig - Elkhead Reservoir Rehabilitation - The City of Craig has an authorization
for a Construction Fund loan of S750,000 in SB 86-27 and in HB 00-1419 for the rehabilitation
and enlargement of Elkhead Reservoir. The City has decided not to pursue the project as
originally proposed and is relinquishing the autholization. Please see the attached letter from the .
City Manager of Craig.

Staff Recommendation - Staff recommends that the City of Craig's Elkhead Reservoir Project in
SB 86-27 and in HB 00-1419 be de-authorized.

c) Colorado Water Protective and Development Association - Item deleted.

d) Larimer Countv/Citv of Ft. Collins - Drv Creek Flood Mitigation Project - A
Construction Fund loan of S920,000 for the Dry Creek Flood Control Project was authorized in
SB 97-008 for Larimer County and the City of Fort Collins. The scope and design of the project
have been revised and Larimer County will request a new authorization in January 2001.. A
revised feasibility study is in progress.

Staff Recommendation - Staff recommends that the existing Dry Creek Project in SB 97-008 be
de-authorized.

e) Jackson Lake Reservoir and Irrigation Companv - Jackson Lake Rehabilitation - The
Jackson Lake Reservoir and Irrigation Company of Fort Morgan has an authorization in SB 94- _
29 for a Construction Fund loan of S 1.000000 for the rehabilitation of Jackson Lake Dam. The ..
,
Company's engineering consultant is in the process of completing an updated feasibility study for

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