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BOARD00995
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Last modified
8/16/2009 2:56:52 PM
Creation date
10/4/2006 6:48:14 AM
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Board Meetings
Board Meeting Date
11/23/1998
Description
CF Section - Changes in Existing Loans - City of Sterling - Pawnee Creek Flood Control Project
Board Meetings - Doc Type
Memo
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<br />. <br /> <br />. <br /> <br />. <br /> <br />PROPOSED PROJECT <br />The purpose of the project is to lessen the frequency and severity of flooding and decrease predicted <br />damages and inundated areas within the Pawnee Creek and Pawnee Creek Overflow floodplains <br />within the City of Sterling and portions of Logan County. In addition, the proposed project will <br />promote economic development for local business and wise land use decisions, and create an <br />opportunity for public open space and parks for recreation. The proposed project will provide 100- <br />year protection to the community. The proposed project design will be in accordance with state and <br />federal engineering standards, and will help to protect the stakeholders' interests and properties. <br /> <br />The Board's staff in cooperation with the Corps of Engineers, FEMA, and Natural Resource <br />Conservation Service (NCRS) has reviewed the local sponsor's proposed project and fmd it to be <br />of an acceptable engineering standard. <br /> <br />The project win consist of the construction of flood control levees and floodwalls, highway closure <br />structures, bridge enlargements by the UPRR and CDOT, conduits under the railroad and irrigation <br />canal embankments, and channel cleaning. <br /> <br />The project design standards with drawing and details are presented the feasibility study entitled <br />"Flood Hazard Mitigation Feasibility Study dated February 1998. Six alternatives were developed <br />and included in the feasibility study. The preferred alternative - Number Five - was selected after <br />an extensive public involvement and evaluation process. The evaluation process was one that <br />offered much public and landowners involvement. <br /> <br />FINANCING ARRANGEMENTS <br />The City is arranging for various funding opportunities and project cooperators at the present time. <br />The funding package win consist of a long-term loan, in-kind construction match from CDOT and <br />UPRR, FEMA-FMGP (grant), cash and in-kind from the county and local governments, and funds <br />already expended for the project by the City. Table 2 provides a summary of the local sponsor's <br />financial plan that includes borrowing money from the CWCB plus the other sources of project <br />funds. The City would like to borrow a total of $1,250,000 from the Construction Fund to round <br />out the project-funding package. House Bi1198-1189 authorized the expenditure of up to $550,000 <br />for the City of Sterling - Pawnee Creek Flood Control Project. An additional $700,000 is now <br />being requested. <br /> <br />Table 2 <br />Proposed Funding Scenario <br /> <br />Year Project Component . . Amount ($) . <br />1999 CWCB Construction Fund Loan 1,250,000 <br />1999 UPRR In-kind Construction Services 400,000 <br />1999 FEMA-FMGP (Grant) 815,000 <br />1999 City cash ($499,000) and County in-kind services 749,000 <br /> ($250,000) <br /> Total $3,214,000 <br /> <br />3 <br />
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