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<br />Colorado Water Conservation Board (I) t;vliE:II€4IJ <br /> <br />Department of Natural ResourcerZ)~ <br />1313 Shennan Street Room 721 -1JE.~~/~ /T, <br />Denver, Colorado 80203 ('2) ~""ry /.'/ <<,-_L. /- -rr/-u''/ """"A~/J A. I <br />Phone, 13031 866.3441 oJ -J/,/II ""'1' .......;..J.(: 1't>4A./, ..... "'VI" -</r~"" L.o IT. <br />FAX, 13031866-4474 <br />www.cwcbstJte.co.us ME M 0 RAN DUM <br /> <br />STATE OF COLcSMDo <br /> <br />Q <br /> <br />Bill Owens <br />Governor <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />GregE. Walcher <br />Executive Director <br /> <br />Rod Kuharich <br />(WeB Director <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />JWV <br />John Van Sciver, P.E., Water Supply Planning and F~nce Section <br />LarTY Lang, P.E., Chief, Flood Protection Section ;;If J,;", 1-''-- <br />Mike Serlet, P.E., Chief, Water Supply Planning and Finance Sectiw <br /> <br />January 22, 2001 <br /> <br />DATE: <br /> <br />SUBJECT: Agenda Item 10c., January 24-25, 2001, Board Meeting-- <br />City of Ouray, Skyrocket Creek Deflection Structure Project <br />Request to Retain Existing Loan Authorization <br /> <br />INTRODUCTION <br />The City of Ouray (City) has an existing $55,000 loan authorization from the CWCB for the Upper <br />Skyrocket Creek Deflection Structure Rehabilitation Project (Project). The City is requesting that <br />this not be deauthorized at this time. <br /> <br />BACKGROUND <br />The CWCB voted to deauthorize the existing $55,000 loan at the November 2000 Board meeting. <br />The City planned to complete a new feasibility study, select a new alternative, and apply for a new <br />(larger) loan. Buckhorn Geotech completed the Feasibility Study in December 2000. The preferred <br />alternative has a project cost of $90,000 and is similar to the project previously approved. A new <br />loan for 75% of this project cost would be $67,500. <br /> <br />DISCUSSION <br />The existing authOlization ($55,000) is very close to the allowable new loan amount ($67,500) <br />based on the updated cost estimate. In addition, the existing authorization carries a 4.75% interest <br />rate (20-year loan) while a new loan would be at 5.25% (20-year term.) In the future the CWCB <br />could still approve a small increase in the existing authorization, if warranted by the final design or <br />increases in the construction cost index. <br /> <br />RECOMMENDA nON <br />The staff recommends that the Board retain the existing Town of Ouray-Skyrocket Creek <br />Deflection Project Authorization. ($55,000 loan from the Construction Fund as authorized by <br />House Bill 00-1419.) <br /> <br />C:\Proj-New\Ouray Skyrocket 101 Red Flag memo <br />L:\boardmem\Jan01\10c Ouray skyrocket Creek .doc <br /> <br />Flood Protection. Wilter Project Planning and Financing. Stream <lnd Llkc Protection <br />Water Supply Protection. Conservation PIJ.nning <br />