BOARD01916

• Board Meeting Date: 1/12/1998
• Description: CF Section - North Poudre Irrigation Company - System Rehabilitation
• Board Meetings - Doc Type: Memo

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Colorado Water Conservation Board
Department of Natural Resources
721 Centennial Building
1313 Sherman Street
Denver, Colorado 80203
Phone, [phone]
FAX, [phone]

STATE OF COLOIV\DO

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MEMORANDUM

Roy Romer
Governor
James S. lochhetld
Executive Director, DNR
D;uiesC. Ule, P.E.
Director, eWeB

TO: Colorado Water Conservation Board Members

FROM: John Van Sciver

DATE: January 21, 1998

SUBJECT: Agenda Item 13b. January 28-29, 1998, Board Meeting-
North Poudre Irrigation Company

This memo contains additional information concerning the loan approved by
the CWCB November 24, 1997. The loan amount is $500,000, and the
purpose is to rehabilitate portions of the North Poudre irrigation system.

This memo also contains an action item to allow:

. Refmancing of a project already constructed, and

. A loan term of 20 years at 4.03%, or a loan term of 10 years at 3.78%.

BACKGROUND

The North Poudre Irrigation Company (located in Larimer County) applied for a Construction
Fund Authorization to undertake 3 rehabilitation projects as follows:

1. North Poudre Reservoir #5 spillway construction; $146,380_
2. Pipe the ditch below North Poudre #6 dam; $444,600.
3. Pipe a portion of North Poudre's Buckeye Lateral; $122,200.

The Company was approved for a $500K Authorization from the Construction Fund for these
projects, 70% of the estimated total cost of $713K. These facilities are located north of Fort
Collins, generally in the vicinity of the Town of Wellington.

Smith Geotechnical Engineers has completed a draft feasibility study. In summary, these projects
have relatively high benefit/cost ratios, and relatively low cost per acre-foot delivered_ Portions
of the feasibility study are attached.