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<br />1.2 Steps to Obtain a CWCB Loan <br /> <br />The basic steps to follow to obtain a CWCB loan are as follows: <br /> <br />e <br /> <br />1. Staff Contact - The project sponsor should contact the CWCB staff to discuss the <br />scope of the proposed proj ect, the schedule, applicable interest rates, etc, The <br />CWCB staff may meet with the applicant to discuss the Loan Feasibility Study and <br />Loan Application process, and any planning or engineering work already completed or <br />underway, Typically a field meeting will be set up to look at the proposed project site <br />during the loan review process, <br /> <br />2. Loan Feasibilitv Studv - The Loan Feasibility Study and Loan Application are <br />submitted by the 1 st day of the month preceding the month of the CWCB meeting. <br />(i.e. February 1st for the March Board meeting,) Loans in excess of $5,000,000 <br />must be submitted by August 31st, for consideration at the November CWCB <br />meeting. A Loan Feasibility Study is required for any funding request from the <br />CWCB, Loan Feasibility Studies are generally conducted by consultants or consulting <br />firms selected by the applicant, with the advice and assistance of the CWCB staff. <br /> <br />3, Loan Review Recommendation - The CWCB staffwill review the completed Loan <br />Feasibility Study and will make a recommendation to the Board regarding the <br />feasibility of the project and the loan, The loan sponsor will be notified if changes <br />are required in the submitted Loan Feasibility Study, Copies of the staff <br />recommendation will be provided to the loan sponsor prior to the CWCB meeting, <br /> <br />e <br /> <br />4. CWCB Loan Authorization CWCB staff will present the loan recommendation to <br />the Board at their bi-monthly meetings, Loans in excess of $5,000,000 are <br />recommended for inclusion in the Construction Fund Bill introduced in January, <br />with funding available the following July 1. <br /> <br />5. Contract Execution - Following Board approval, the project sponsor will be <br />contacted by the CWCB Contracts Manager to begin the loan contracting process, <br />No State funding can be provided until a signed State contract is in place, <br /> <br />6, Design and Construction - Following Board approval the project sponsor will also <br />be contacted by the CWCB Design and Construction Manager to begin discussing <br />the design and construction process. Items such as the following will be discussed: <br />a. Project Schedule, "Need Funding" Date, and Project Contacts <br />b. Design/Construction Process and Requirements/Bidding Prodedures <br />c. Loan Disbursement Procedures <br /> <br />7. Loan Repavment - At the end of project construction, and following issuance of <br />a Letter of Substantial Completion by the Design and Construction Manager, and <br />payment of the Interest During Construction (IDC) owed, the project sponsor <br />will begin making permanent annual loan payments, <br /> <br />e <br /> <br />This section provides a summary of the steps in obtaining a CWCB loan, Additional <br />information is available on the CWCB website at www.cwcb.state.co.us. <br /> <br />4 <br />