BOARD01500

• Board Meeting Date: 3/29/1999
• Description: CF Section - Changes in Existing Loans - Buffalo Mutual Irrigation Co. - Diversion Structure Rehabilitation
• Board Meetings - Doc Type: Memo

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Colorado Water Conservation Board
Department of Natural Resource~
1313 Sherman Street
Denver, Colorado B0203
Phone: [phone]
FAX: [phone]

STATE OF COLORADO

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Bill Owens
Governor

Greg E. Walcher
Executive Director, DNR

Peter H. Evans
Director, ewes

MEMORANDUM

TO:

Colorado Water Conservation Board Members , I'Ih,

Bill Stanton, P.E., Chief, Project Planning and Construction S~~tir \flJ ,:",'
Mike SerIet, P.E., Design and Construction Project Manager/ll)

March 22, 1999

FROM:

DATE:

SUBJECT:

Agenda Item # IS.a., March 29-30, 1999, Board Meeting - Water
Project Construction Loan Program - Changes in Existing Loans -
Buffalo Mutual Irrigation Co. - Diversion Structure Rehabilitation

INTRODUCTION

Due to unforeseen construction site conditions resulting in subsequent increased
re-design costs, construction delays, and increased construction costs, the Buffalo Mutual
Irrigation Company (Buffalo Mutual) is requesting a $71,000 increase to their previously
authorized loan.

BACKGROUND

A loan for the rehabilitation of the Buffalo Mutual Arkansas River Diversion
Dam, located in Prowers County east of Lamar, was approved in 1997 through SB 97-
008 and amended in 1998 for a total loan amount of $378,750. The loan to Buffalo
Mutual covered 75% of the estimated project cost of $505,000 at the agricultural interest
rate of 3.75% over 30 years. The project consisted of a 200-foot continuous concrete
overflow section across the Arkansas River, diverting water to a new concrete headgate
structure.

During demolition of the old diversion structure, and site preparation for the new
tit structure's foundation, it was discovered that the old structure's foundation was much