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<br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Shennan Street, Room 721 <br />Denver, Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX, (303) 866,4474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />CWCB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: <br /> <br />Mike Serlet, P.E., Chief <br />Water Supply Planning and Finance Section <br /> <br />DATE: <br /> <br />May 13,2002 <br /> <br />SUBJECT: <br /> <br />Agenda Item 11a - May 20-21, 2002, Board Meeting <br />Water Supply Planning and Finance Section - Changes in Existing Loans <br />Pinon Mesa Ranches Community Association - Irrigation System Project <br /> <br />Introduction <br /> <br />Senate Bill 97-008 authorized a $206,000 loan from the Construction Fund to the Pinon Mesa <br />Ranches Community Association (Pinon Mesa) for the construction of a Florida River diversion <br />structure, a raw water pipeline, and a small storage reservoir to provide the homeowners association <br />with water for an outside irrigation system. The project is located in La Plata County, 20 miles <br />southeast of Durango. The construction project was never completed, Pinon Mesa is currently in <br />default on its loan contract, and the Secretary of State has administratively dissolved the Association. <br />This memo will describe the project history, including the current status, and recommend a resolution <br />of the loan delinquency. <br /> <br />Background <br /> <br />Following is a brief chronology of the project's history: <br /> <br />October 97 <br />January 98 <br /> <br />The loan contract was executed between the CWCB and Pinon Mesa. <br /> <br />The last loan advance was made to Pinon Mesa by the CWCB for a total loan <br />disbursement of$173,162.66. <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />