PROJ00515

• Contract/PO #: FS0019X
• Contractor Name: Turkey Creek Snowball Creek Project CWRPDA 1985
• Contract Type: Loan
• Water District: 0
• County: Archuleta
• Loan Projects - Doc Type: Feasibility Study

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The interest rate is currently 8.375 percent with a maximum term. of 40
years. If the community qualifies as a low income community, as determined
by median incomes, the interest rate can be lowered to 6.625 percent. In
the past, Pagosa Springs has not met the eligibility requirement because
alternative financing has always been available.

6.1.4 State Impact Assistance Loans and Grants

Money is available to communities that have been impacted by mineral
and energy extraction. The interest rate is 5 percent on loans.
Competition for the money is state-wide with the selection committee
meeting three times per year. Requests have exceeded funds by a factor of
six over the past year.

6.1.5

State Community Development Block Grants

Block Grants are available to communities with populations under
50,000 people and with low to moderate income. Pagosa Springs has
qualified for this kind of funding in the past and currently has grants and
loans for water treatment improvements and pipeline construction. Funding
is based on need as determined statewide. There is no matching fund
requirement for the money.

6.1.6 Colorado Water Conservation Board (CWCB)

The General Assembly provides funds for water development projects
through the CWCB. The money is intended to supplement the project sponsors
funds and must be paid back to the State. The interest rate on loans is
normally five percent over a term of 40 years. The CWCB will fund up to 50
percent of the construction cost. A reserve fund must be established, but
payments do not start until construction is completed.

6.1.7 Colorado Water Resources and Power Development Authority

The Colorado Water Resources and Power Development Authority is
authorized by statute:

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