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BOARD02408
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Last modified
8/16/2009 3:15:10 PM
Creation date
10/4/2006 7:14:49 AM
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Template:
Board Meetings
Board Meeting Date
1/27/1999
Description
CF Section - Changes in Existing Loans - North Poudre Irrigation Company - System Rehabilitation
Board Meetings - Doc Type
Memo
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<br />. <br /> <br />SUMMARY OF PROPOSED PROJECTS <br />NORTH POUDRE IRRIGATION COMPANY <br />RESERVOIRS NOS. 4, 5 AND 6 AND INDIAN CREEK RESERVOIR <br /> <br />Proiect Sponsor: North Poudre Irrigation Company <br /> <br />Tvpe of Proiect: Agricultural and municipal- dam, spillway and ditch rehabilitation. <br /> <br />Location: About 5 to 10 miles north of Fort Collins in Larimer County as shown on the <br />attached map. <br /> <br />Date of Application: Originally, November 20, 1997 <br /> <br />Feasibilitv Study: Draft received November 2,1998, revised January 19,1999- <br />prepared by Smith Geotechnical <br /> <br />. <br /> <br />Proiect Description: The North Poudre Irrigation Company (NPIC) is proposing four <br />rehabilitation projects involving three of its reservoirs and an outlet ditch from a fourth <br />reservoir. Three of the projects, NPIC Reservoirs Nos. 4 and 5 and Indian Creek <br />Reservoir, involye spillway improvements as well as other construction to meet the <br />requirements of the State Engineer's Office and to generally improve the safety of these <br />structures. The fourth project, NPIC Reservoir No.6 Outlet Ditch, involves installing <br />reinforced concrete pipe in an existing ditch alignment to prevent further erosion and <br />sloughing of ditch embankments and resultant damage to nearby lands. <br /> <br />Estimated Proiect Cost: $1,896,960 allocated as follows: <br /> <br />Reseryoir No.4 $488,462 <br />Reservoir No.5 $200,375 <br />Indian Creek Reservoir $585,340 <br />Reservoir No.6 Outlet Ditch $622,783 <br />Total $1,896,960 <br /> <br />Reauested Loan: In January 1998, the Board gave conditional approval for a $500,000 <br />Construction Fund loan for a portion of the above at 75 percent of project costs. One of <br />the conditions of loan approval was the completion of a feasibility study. The NPIC is <br />now requesting an additional $1,107,000 which represents 90 percent of the additional <br />costs. The Company is requesting a 20-year loan term with a weighted lending rate of <br />4.04 percent based on the distribution of shares in agricultural and municipal water use. <br /> <br />. <br />
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