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<br />T <br /> <br /> <br />Discussion <br />As of November of this year, there are ten authorizations for funding that are three years .. <br />or more past the date of authorization and are not yet under contract. Staff has evaluated each of - <br />the authorizations and discussed the status of the projects with the project sponsors and their <br />consultants. The results of these evaluations along with the staff recommendations relative to <br />extending project time limits are summarized in the fo1l9wing: <br /> <br />1. Groundwater Appropriators of the South Platte (GASP) - New Reservoir Construction - The <br />CWCB approved a Construction Fund project loan of $1,700,000 to the GASP in 1998 for <br />the construction of a new reservoir in the lower South Platte. GASP continues to work on <br />planning, permitting and financing of this project and has requested an extension oftheir loan <br />authorization. (letter attached) . <br /> <br />2. Town ofPaonia - New Reservoir Construction - the CWCB approved a Construction Fund <br />project loan of $600,000 to the Town in 1995 for the construction of a new water supply <br />reservoir. The Town and their consultant (GEl Consultants, Inc.) continue to work on the <br />proj ect feasibility study. They anticipate study completion in June 2002 and have requested <br />an extension of their loan authorization. (letter attaflhed) <br /> <br />3. Citv of Sterling - Pawnee Creek Flood Control Proiect - The CWCB approved a <br />Construction Fund project loan of $550,000 to the City in 1998 for the construction of flood <br />control improvements along Pawnee Creek north, and west of the City. The City and their .. <br />consultant (ICON Engineering, Inc.) continue to work on the project feasibility study. They - <br />anticipate study completion in the near future with construction scheduled to commence in <br />early summer 2002. They have requested an ellitension of their loan authorization. (letter <br />attached) <br /> <br />4. Pine River Irrigation District - Diversion StructUre Construction - The CWCB approved a <br />Construction Fund projectloan of $341,000 to th'e District in 1997 for the construction of a <br />diversion structure on the Pine River downstream of Vallecito Reservoir. The project is <br />experiencing significant financial difficulties, however, the District is currently investigating <br />alternative funding sources and project descriptions. They have requested an extension of <br />their loan authorization. (letter attached) I <br />I <br /> <br />Recommendation <br /> <br />Staff recommends the Board approve a one-year extension of the loan authorizations <br />described above. <br /> <br />2 <br /> <br />.e <br />