BOARD00947

• Board Meeting Date: 11/23/1998
• Description: CF Section - Changes in Existing Loans - City of Loveland - Green Ridge Glade Reservoir Enlargement
• Board Meetings - Doc Type: Memo

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Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building
, 313 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

STATE OF COLORADO

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MEMORANDUM

Roy Romer
Governor

TO:

James S. Lochhead
Colorado Water Conservation Board Members E"cut;" Di"""o,, DNR
~ L/ Oaries C. lite, P.E.
\ f\ '''' ~ "' /?{J Director, CWCB
Bill Stanton, P.E., Chief, Planning and Construction ~ 'I. ' . P P,t" H. E"ns
Bill Green, P.E., Manager of Planning, Planning and Construction Acting Directo" eWeB

FROM:

DATE:

November 16, 1998

RE:

Agenda Item No. 23.a. . Water Project Construction Loan
Program - Changes in Existing Loans - City of Loveland -
Green Ridge Glade Reservoir Enlargement

Introduction

The City of Loveland. acting by and through its water activity enterprise, is requesting an
additional $3,0 million in funding for the enlargement of the City's Green Ridge Glade
Reservoir. The City has a 1997 Construction Fund authorization of $2,0 million for the project
An updated project summary, location map, and water supply schematic from the November 19,
1997 staff memo to the Board are attached (November 1997 Agenda Item No, 17k.),

Backl!round

In November of 1997, the Board recommended a Construction Fund loan of $2,0 million for ten
years at a lending rate of 4,75 percent to the City of Loveland for the enlargement of the City's
Green Ridge Glade Reservoir. The loan was subsequently authorized by the General Assembly
in HE 98-1189, No funds have yet been disbursed under this authorization,

Green Ridge Glade is an existing raw water reservoir with a capacity of 600 acre-feet The City
proposes to increase the reservoir capacity to 6,000 acre-feet to provide needed operational and
emergency storage for the City's municipal water supply system. All feasibility work was
completed in October 1997, Table 1 provides a summary of the project.

Table 1. Green Ridge Glade Reservoir Summary

Dam Tvoe Earth Embankment
Reservoir Capacity (Acre-Feet) 6,000
Total Proiect Cost $20,000,000
Cost per Acre-Foot $3,333
City Financing $13,000,000
Financing from Other Sources $7,000,000