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<br />, <br /> <br />-2- <br /> <br />recommend that the Board extend the project time limit for one year. The staff will . <br />continue to review the project on an annual basis until a CWCB funding contract is fully <br />executed or the Board has recommended de-authorization to the Legislature. <br /> <br />Discussion <br /> <br />As of November of this year, there are four authorizations for funding that are three years or <br />more past the date of authorization and are not yct under contract. There is also one project that is <br />not past the three-year deadline, however the project sponsors are no longer interested in moving <br />forward with a loan from the CWCB. Staffhas evaluated each of the authorizations and discussed the <br />status of the projects with the project sponsors and their consultants. The results of these evaluations <br />along with the staff recommendations relative to extending project time limits are summarized in the <br />following: <br /> <br />a. Pine River Irrigation District - Diversion Structure - The CWCB approved a Construction <br />Fund project loan of $341,000 to the District in 1997 for the construction of a diversion <br />structure on the Pine River downstream ofVallecito Reservoir. Due to unresolved plamJing <br />issues within La Plata County the proj ect has been postponed indefinitely. The District has <br />requested de-authorization of this loan (attached letter). Staff recommends that the Board <br />consider de-authorization of this loan. <br /> <br />b. <br /> <br />Riverside Reservoir and Land Companv - Emergency Spillway Construction - The CWCB <br />approved a Construction Fund project loan of $450,000 to the Company in 1998 for the <br />construction of an emergency spillway on the Riverside Reservoir Dam. The Company has <br />been unsuccessful in negotiating easements with adjacent landowners and feels that a re- <br />evaluation of the project is in order. They have therefore requested de-authorization of this <br />loan (attached letter). Staff recommends that the Board consider de-authorization of this <br />loan. <br /> <br />. <br /> <br />c. Colorado Water Protective and Develooment Association - Water Rights Purchase - The <br />CWCB approved a Severance Tax Trust Fund Perpetual Base Account project loan of <br />$205,000 to the Association in 2001 for the purchase of augmentation water from the <br />Bessemer Irrigating Company. The Association has experienced internal organizational <br />constraints that have been problematic relative to the loan contracting process. The <br />Association has therefore requested de-authorization of this loan (letter attached). Staff <br />recommends that the Board consider de-authorization of this loan. <br /> <br />d. Groundwater Aporopriators of the South Platte - Sedgewick Augmentation Reservoir - <br />The CWCB approved a Construction Fund project loan of $1,700,000 to GASP in 1998 <br />for the construction of a new reservoir in the lower South Platte. GASP is no longer <br />seeking funding for this project and has requested de-authorization of this loan (letter . <br />attached). Staff recommends that the Board consider de-authorization of this loan. <br /> <br />Flood Protection. Water Project Planning and Financing. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />