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.. . e e . Colorado Water Conservation Board Department of Natural Resources 1313 Sherman Street Denver, Colorado 80203 Phone, (3031866-3441 FAX, (3031 866.4474 STATE OF COLOMDO . Bill Owens Governor MEMORANDUM Greg E. Walcher Executive Director, DNR Peter H. Evans Director, eWeB TO: Colorado Water Conservation Board Members Bill Green, P,E., Manager of Planning, Project Planning and construction~ Mike Serlet, P.E., Chief, Project Planning and Construction ~U September 16,1999 FROM: DATE: SUBJECT: Agenda Item 9 b., September 27-28,1999 Board Meeting - Water Project Construction Loan Program - Changes in Existing Loans - Red Mesa Ward Reservoir and Ditch Company - Red Mesa Reservoir Rehabilitation Introduction The Board will be asked to take action on a feasibility study loan contract with the Red Mesa Ward Reservoir and Ditch Company. Backl!round Red Mesa Reservoir is located about 20 miles southwest of Durango in La Plata County. The Red Mesa Ward Reservoir and Ditch Company (Company) is the owner and operator of the reservoir. The Company supplies water to its shareholders for mainly agricultural purposes. There are about 50 shareholders in the Company. In March 1994, the Board approved a loan of$15,000 (not to exceed 75% of total study costs) from the Construction Fund to the Company for a feasibility study of the rehabilitation and possible enlargement of Red Mesa Reservoir. The total cost ofthe study was estimated to be $20,000. The feasibility study loan was approved with the condition that it would be repaid as part ofthe construction loan for the project or that it would be forgiven altogether if it is determined that the project is not feasible. The loan contract (Contract No. C153686) was executed in January 1995 and calls for the submittal of a completed study within one year.