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<br />-2- <br /> <br />1" <br /> <br />, <br />, <br /> <br />" <br /> <br />2. If the Project Sponsors have progressed towards execution of a project funding contract, a <br />but the progress has been delayed due to extenuating circumstances, the staff may . <br />recommend that the Board extend the project time limit for one year, The staff will <br />continue to review the project on an annual basis until a CWCB funding contract is fully <br />executed or the Board has recommended de-authorization to the Legislature, <br /> <br />Discussion <br /> <br />As of November of this year, there are five authorizations for funding that are three years or <br />more past the date of authorization and are not yet under contract. There are also two projects that <br />are not past the three year deadline, however the project sponsors are no longer interested in moving <br />forward with a loan from the CWCB, Staffhas evaluated each of the authorizations and discussed the <br />status of the projects with the project sponsors and their consultants, The results of these evaluations <br />along with the staff recommendations relative to extending project time limits are summarized in the <br />following: <br /> <br />I, 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 of their loan <br />authorization, (letter attached) <br /> <br />2. Town ofPaonia - New Reservoir Construction m 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,) have develop a new project <br />proposal and will be applying for a new project authorization at the November Board <br />meeting, They have therefore requested the original loan authorization be de-authorized, <br />(letter attached) <br /> <br />e <br /> <br />3, Pine River Irrigation District - Domestic Water Supplv Svstem - The State Legislature <br />approved a Construction Fund project loan of $300,000 to the District in HB 00-1419 (within <br />the three year deadline) for the design and right-of-way acquisition for a rural domestic water <br />system, The project experienced significant financial difficulties that were too much to <br />overcome. They have requested the loan authorization be de-authorized. (letter attached) <br /> <br />4. Pine River Irrigation District - Diversion Structure Construction - The CWCB approved a <br />Construction Fund project loan of$341,000 to the District in 1997 for the construction ofa <br />diversion structure on the Pine River downstream of Vallecito Reservoir. The project is <br />experiencing financial difficulties, however, the District is currently investigating alternative <br />funding sources, They have requested an extension of their loan authorization, (letter <br />attached) <br /> <br />e <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />