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<br />"" <br /> <br />Review of Revised Guidelines <br />January 24-25, 2005 <br /> <br />Agenda Item 21 a <br /> <br />In 1975, the Board issued its first Guidelines for applicants interested in pursuing projects <br />through the Construction Fund. Those Guidelines were re"issued with modifications in 1978, In <br />1980, the Board issued a Technical Supplement to the Guidelines that included sample calculations <br />and drawings to be used by consultants for water project planning and design, The last revision to <br />the Guidelines was issued in 1994. <br /> <br />e <br /> <br />Discussion <br /> <br />Originally, the Guidelines were prepared for the purpose of completing feasibility studies for <br />large scale water projects and projects of statewide concern, Since that time, the Board's water <br />project loan program has evolved into a program financing projects of much smaller scale. The <br />purpose of these most recently revised Guidelines is to provide a more user friendly document for <br />water project loan applicants to use in the preparation of their loan application to the Board, <br /> <br />In addition, it was staffs intention to streamline and simplify the Guidelines by making the <br />document more directly applicable to the Loan Feasibility Study preparation, An additional change <br />is the use of the term "loan feasibility study", rather than "feasibility study", to emphasize the <br />broader nature of a CWCB feasibility study that includes financial analysis and creditworthiness of <br />project sponsors. Much of the administrative and programmatic information included in the <br />previous Guidelines will be accessible by both a future published marketing brochure and by the <br />CWCB website, <br /> <br />It should be noted that guidelines are informal policy statements, rather than formal rules. a <br />Rules establish a "binding norm" governing agency action and impose legal obligations upon agency ., <br />employees or upon regulated persons, By comparison, a policy statement that has not been adopted <br />through formal rulemaking procedures may provide agency employees with general guidance, but <br />must also allow employees discretion in any particular circumstance, <br /> <br />Recommendation <br /> <br />Staff recommends that the Board direct staff to finalize the Water Project Loan Program <br />Guidelines and bring them back to the Board for final approval at the March Board meeting in Rifle. <br />Staff will also ask the Board at the March meeting to ehange all references to "Construction Fund <br />Guidelines" in its financial policies to "Water Project Loan Program Guidelines", <br /> <br />Attachment <br /> <br />. <br /> <br />Page 2 of 5 <br />