PROJC00452 - Laserfiche WebLink

Home Browse Search

. STATE ct COLORADO o .Colorado Water Conservation Board Department of Natural Resources 721 Slate Centennial Building 1313 Shennan Street Denver. Colorado 80203 Phone (303) 866,3441 FAX (303) 866,4474 Roy Romer Governor MEMORANDUM KenSala7ar Executive Director. DNR Daries C. lile. P.E. DirOclor. CWCB TO: Members, CWCB FROM: Larry Lang DATE: J anHaI:y-12.-.1994 SUBJECf: ~ Agenda Item 19d, January 19-20, 1994 Board Meeting-- Amendment to the Coal Creek Flood Control Project Contract for Erie, Colorado ( Backwound The Coal Creek Flood Control Project for the Town of Erie was formulated in 1980 through a feasibility study directed by the Colorado Water Conservation Board (CWCB) and the Town. The project consists of channel construction, levees, new county bridge, modifications to the Union Pacific Railroad (UPRR) bridge, and private road crossings. In 1980, the total project cost was estimated to be $458,520. A CWCB loan for the project in the amount of $313,530 was authorized by Senate Bill No. 439 in 1981. At that time, flood control was an eligible construction fund activity. The terms for the loan under the Board's construction fund were 40 years at 2 percent interest with payments of $11,.463, annually. In the 1981 bill, twenty projects were authorized with seventeen projects receiving a payment period of 40 years, The loan contract for this project. was signed in January 1992. The loan is secured by a town fund which is known as the Erie "Public Works Fund." Revenues for the fund come from a monthly assessment of $2 on all existing and new water taps. On December 31, 1993, the town fund had a balance of $24,000. When the contract between the Town and CWCB was signed there were 515 active water taps, In addition to the financial assistance from the CWCB, the Town has received a grant in the amount of $160,000 from the Department of Local Affairs (DOLA). ,'," ATTACHMENT F