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<br />" <br /> <br />Pine River Irrigation District <br />January 26-27, 2000 <br /> <br />Agenda Item 10e. <br /> <br />, <br /> <br />Loan Alternative <br />If all of the $300,000 were a grant, there would be no need for a repayment plan. If any part tit <br />were a loan, VWC would request that repayment not begin until one year after construction <br />begins when there is cash flow from tap fees and water sales. Further, VWC would request a <br />1 O-year loan at the low-income municipal rate. <br /> <br />Existina CWCS Loan Authorization <br />There is an existing CWCB loan authorization (1997) in maximum amount of $341,000 to <br />construct the raw water portion (diversion and raw water pipeline) for this project. Due to a <br />revision in the design, the VWC will need to use only $200,000 of this authorization <br /> <br />Staff ODinion on the Project <br />This project would receive a positive recommendation from Staff for a grant or a loan in amount <br />of $300,000, were it not for the statutory prohibition against CWCB recommending rural <br />domestic water distribution systems to the Legislature. If a loan were to be recommended, <br />the term would be 10 years at an interest rate of 3.5%. The recommendation would be <br />contingent upon the District/Company obtaining the necessary 920 tap sign-ups required to <br />secure financing through Rural Development. <br /> <br />Recommendation <br />Staff recommends that the CWCB find that the Pine River Irrigation DistricWallecito Water <br />Company project would be worthy of CWCB funding, were it not for the statutory prohibition <br />against recommendation of domestic water treatment and distribution system projects to the <br />legislature. <br /> <br />Staff further recommends that the CWCB Board evaluate the need for CWCB funding of <br />domestic water treatment and distribution system projects. This may be accomplished as part <br />of the regional water planning process, and may result in proposed legislation that would allow <br />CWCS financing of domestic water treatment and distribution system projects. <br /> <br />e <br /> <br />cc: Robert Witt, President, Pine River Irrigation District, 13029 County Rd. 501, Bayfield, CO 81122 <br />Steve Harris PE, Project Engineer, 954 East second Street, Durango, CO 81301 <br />Linda Bassi, AGO <br /> <br />Attachment <br /> <br />C:IWP51 IProj-NewlPRI 01 OOmemo L:lboardmemlJanOOl 1 Oe-JanOO <br /> <br />e <br /> <br />6 <br />