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<br />. <br /> <br />. <br /> <br />. <br /> <br />n) Summit Res. & Irrigation Co. - Summit Ditch Svstem Rehabilitation - A Construction <br />Fund Loan of $200,000 was authorized in SB 97-008 to rehabilitate the Summit Reservoir and <br />Irrigation Company's existing irrigation system. To-date the Ditch Company has completed <br />$129,319.62 worth of improvements to their system. Their remaining project is to pipe the South <br />Main Ditch, which is currently on hold until right-of-way issues are resolved. The Ditch <br />Company is tentatively planning on having the necessary right-of-way in-place by spring of 200 1, <br />with construction to follow in the summer/fall of 200!. The Ditch Company has formally <br />requested that the loan be continued at this time. <br /> <br />Staff Recommendation - Staff recommends that the Summit Reservoir and Irrigation Company <br />construction loan, as authorized in SB 97-008, be continued at this time. <br /> <br />0) City of Victor - Victor Reservoir #2 Dam Rehabilitation - The City of Victor's Reservoir <br />NO.2 is in critical need of rehabilitation. The City has an authorization for a Construction Fund <br />loan of $600,000 in HB 95-1155 for the rehabilitation project. Conditions of Board approval <br />include a completed feasibility study and a staff analysis of the City's repayment capacity. <br />The City recently received a grant from the Colorado Department of Local Affairs to offset a <br />portion of the project costs and enhance the financial feasibility ot the project. The City and their <br />consultants are expected to complete the feasibility study this month and staff analysis of the <br />City's repayment capacity will be conducted shortly thereafter. Attached is a letter from the City <br />requesting that the existing authorization be continued. <br /> <br />Staff Recommendation - Staff recommends that the existing authorization in HB 95-1155 for tC~ <br />Victor Reser/air W':' Dam Rehabilitation be cOlitinued for another year. <br /> <br />p) The San Luis Vallev Canal Company - Diversion (Check) Structure - A Construction <br />Fund loan of$188,000 was authorize\! in SB 97-008 for rehabilitation ofa check structure on the <br />San Luis Valley Canal. The Company has completed the project with its own funds and does not <br />need CWCB financing. The Company has requested the loan be deauthorized at this time. <br /> <br />Staff Recommendation - Staff recommends that the San Luis Valley Canal Company loan, as <br />authorized in SB 97-008, be de-authorized at this time. <br /> <br />5 <br />