BOARD01987

• Board Meeting Date: 7/13/1998
• Description: CF Section - Greeley and Loveland Irrigation Company - Horseshoe #2 Reservoir Outlet Rehabilitation
• Board Meetings - Doc Type: Memo

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Water Project Construction Loan Program-Project Data

Borrower:

Greeley and Loveland Irrigation Company

Project Name: Horseshoe #2 Dam Rehabilitation Project Type: Dam Rehabilitation

County: Larimer Drainage Basin: South Platte Water Source: Big Thompson

Total Project Cost: $100,000

Funding Sources: Company and CWCB

Type of Borrower: Agricultural/Municipal

Median Household Income: NA

CWCB Loan:
CWCB Grant:

$75,000
$ 2,500

Interest Rate: 4.21 %

Term: 30 years

Annual Volume of Water delivered by the Project: 8,051 acre-feet

Horseshoe #2 Reservoir is located 2 miles north of Loveland and about 4 miles north of the Big
Thompson River. The main outlet has failed and is inoperable. If the outlet is not rehabilitated the
Company will not be able to use the 8,051 acre-foot capacity of Horseshoe #2 Reservoir to meet the
water delivery needs of its shareholders in 1999. The Greeley and Loveland Irrigation Company is
Mutual Irrigation Company with 160 shareholders and a service area of approximately 20,000 acres.
Boyle Engineering has been retained by the Company to complete the feasibility study and to prepare
plans and specifications for the project. The feasibility study will be completed by July 1998. The
Greeley and Loveland Irrigation Company plans to rehabilitate the main outlet starting in the fall of
1998. The project will be completed in winter 1998-1999. Proposed funding for the project consists of
a CWCB loan in amount of $75,000 from the Small Project Loan Account. and $25,000 from the
Company. A $2,500 CWCB grant from the Severance Tax Operational Account and $2,500 from the
Company will fund the feasibility study.

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