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e . - STATE OF COLORADO Colorado Water Conservation Board Department of Natural Resources 1313 Sherman Street, Room 721 Denver, Colorado 80203 Phone: (303) 866.3441 FAX: (303) 866.4474 www.cwcb.state.cQ.us MEMORANDUM Bill Owens Governor TO: Colorado Water Conservation Board Members ,//"~ Kirk Russell, P.E. ~ ~f' r Mike Serlet, P.E., Chief '-~J Water Supply Planning an Finance Section Russell George Executive Director FROM: Rod Kuharich CWCB Director Rick Brown Acting Deputy Director DATE: January 17, 2006 SUBJECT: Agenda Item 19a, January 24-25,2006 Board Meeting Water Supply Planning and Finance Section - Change to Existing Loan Mancos Valley Beaver Ditch Company - Ditch Pipeline Project The Mancos Valley Beaver Ditch Company (Company) is requesting an increase to CWCS's funding limit of CWCS Loan (Contract #C150185). This requested increase is from $413.000 (approved September 14, 2004) to $904,750 (100% of current Project cost estimate per CWCB Policy). This increase is a result of an error in the original Project scope. The Project length and alignment will remain nearly the same as the previously approved loan; however, the pipe size has been increased. The Company will receive in-kind engineering services and a grant from NRCS for 75 percent of the NRCS established unit prices. The remaining 25 percent of the construction cost will become a 30-year CWCS loan. Financial Analvsis Table 1 shows a summary of the funding sources for the project. The Company will receive a 75 percent construction grant from NRCS totaling $678,562. Table 1. Project Funding Sources Entity Initial Loan Grant Post-Construction Loan CWCS $904,750 $0 $226,188 NRCS $0 $678,562* $0 Company $0 $0 $0 Totals $904,750 $678,562 $226,188 * Received after construction is complete from NRCS Salinity Control Project. Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection Water Supply Protection. Conservation and Drought Planning