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<br />- 2- <br /> <br />2. If the Project Sponsors have progressed towards execution of a project funding contract, <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 seven authorizations for funding that are three years <br />or more past the date of authorization and are not yet under contract. There is also one project that is <br />not past the three-year deadline, however the project sponsors are no longer interested in moving <br />forward with a loan from the CWCB. Staff has 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 />a. Town of Ourav - Skyrocket Creek Deflection Structure - The CWCB approved a <br />Construction FWld project loan of$55,000 to the Town in 1999/2000 for the construction of <br />the Skyrocket Creek Deflection Structure. The Town has decided to pursue fl11ancing of the <br />project from other sources and has requested de-authorization of this loan (attached letter). <br />Staff recommends that the Board consider de-authorization of this loan. <br /> <br />b. Town of Paonia - New Reservoir Construction - The Project was de-authorized by the <br />Board at their January 23,2003 meeting upon approval ofa $1,000,000 loan to the Town for <br />the purchase of water rights and water taps. No action on this item is necessary since the <br />required Board action occurred last January. <br /> <br />c. Pine River Irrigation District - Diversion Structure - The CWCB approved a Construction <br />Fund project loan of $341,000 to the District in 1997 for the construction of a diversion <br />structure on the Pine River downstream of Vallecito Reservoir. The project is to be <br />designed by the Natural Resources Conservation Service in Durango. Due to NRCS design <br />scheduling problems the project has been delayed. The District has requested a continuation <br />of this loan authorization (attached letter). Staff recommends continuation of this loan. <br /> <br />d. City of Sterling - Pawnee Creek Flood Control Proiect - The CWCB approved a <br />Construction FWld 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 has <br />abandoned the project and has requested de-authorization of this loan (attached letter). Staff <br />recommends that the Board consider de-authorization of this loan <br /> <br />e. Riverside Reservoir and Land Companv - Emergencv Spillwav Construction - The CWCB <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />