Laserfiche WebLink
<br />- 8- <br /> <br />Staff recommends a grant from the Feasibility Study Small Grant Fund in the <br />maximum amount of $5,000 to cover one-half of the cost of completing the feasibility <br />study. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all other <br />standard contracting provisions of the CWCB. <br /> <br />Motion was approved 7-0. Russell George was not present. <br /> <br />Tape 1 Track 5 2:28:30 - 2:46:25 <br />d. FL Gill H20 LLC - Well Augmentation Project <br />Action: A motion was made by Eric Wilkinson with a second by Greg Hoskin for a CWCB <br />Small Project loan from the Severance Tax Trust fund Perpetual Base Account in <br />amount up to $115,898 ($114,750 for project costs and $1,148 for the one-percent <br />Loan Service Fee, in accordance with CWCB Loan Policy #16 to the FL Gill H20 <br />LLC. The loan is for up to 90% of the cost to construct a well augmentation and <br />groundwater recharge project and to purchase water rights. The recommended loan <br />terms are 30 years at 2.5% (2.58% Annual Percentage Rate), 20 years at 2.25% <br />(2.36% Annual Percentage Rate), or 10 years at 2% (2.20% Annual Percentage Rate), <br />at the borrower's option. Security for the loan will be a pledge of assessment <br />revenues backed by assessment covenant and collateral valued at $130,000 or more in <br />the form of shares in Riverside and/or Jackson Lake Reservoir or other similar shares <br />to assure repayment of the loan, in accordance with CWCB Loan Policy #5 <br /> <br />Staff recommends a grant from the Feasibility Study Small Grant Account in amount <br />of $300 to cover Y2 the cost of completing the feasibility study. Staff further <br />recommends that final approval of the loan be conditioned upon standard contracting <br />provisions of the CWCB. <br /> <br />Motion was approved 7-0. Russell George was not present. <br /> <br />Tape 1 Track 5 3:35:20 - 3:42:30 <br />e. Terrace Irrigation Company - Terrace Reservoir Outlet Repair <br />Action: A motion was made by Don Schwindt with a second by David Smith to approve staff <br />recommendation of a CWCB Small Project loan from the Severance Tax Perpetual <br />Base Account in an amount up to $245,430 ($243,000 for project cost sand $2,430 for <br />the one-percent loan origination fee, in accordance with CWCB Loan Policy #16) to <br />the Terrace Irrigation Company. The loan is for up to 90% of the cost to rehabilitate <br />Terrace Reservoir and to repay project costs already incurred. The recommended <br />term of the loan is 30 years and the recommended interest rate is 2.5% (2.556% <br />Annual Percentage Rate.) Security for the loan will be a pledge of assessment <br />revenues backed by an assessment covenant, and the project itself, adequate to assure <br />repayment of the loan, in accordance with CWCB Loan Policy #5. <br /> <br />Staff further recommends that final approval of the loan be conditioned upon all <br />standard contracting provisions of the CWCB. <br /> <br />Motion was approved 7-0. Russell George was not present. <br /> <br />Flood Protection. Water Project Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br />