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<br />e . <br /> <br />. <br /> <br />. <br /> <br />STATE cI COLORADO <br /> <br />-. <br />'.. <br />~. ~ <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br />721 Centennial Building <br />, 313 Sherman Street <br />Denver, Colorado 80203 <br />Phone: (303) 866,3441 <br />FAX: (303) 866,4474 <br /> <br />Roy Romer <br />Governor <br /> <br />MEMORANDUM <br /> <br />James S. Lochhead <br />Executive Directo~, DNR <br />O<'lries C. Ule, P.E. <br />Director, CWCB <br />Peter H. Evans <br />Acting Director, ewes <br /> <br />(Updated Feb/Uary 6, 1998) <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />FROM: John Van Sciver <br /> <br />DATE: January 21, 1998 <br /> <br />SUBJECT: Agenda Item 13b. January 28-29, 1998, Board Meeting-- <br />North Poudre Irrigation Company <br /> <br />This memo contains additional information concerning the loan approved by <br />the CWCB November 24, 1997. The loan amount is $500,000, and the <br />purpose is to rehabilitate POrtiOl1S of the North Poudre irrigation system. <br /> <br />This memo also contains an action item to allow: <br /> <br />. Refinancing of a project already constructed, and <br /> <br />. A loan term of 20 years at 4.03%, or a loan term of 10 years at 3.78%. <br /> <br />BACKGROUND <br /> <br />The North Poudre Irrigation Company (located in Larimer County) applied for a Construction <br />Fund Authorization to undertake 3 rehabilitation projects as follows: <br /> <br />1. North Poudre Reservoir #5 spillway construction; $146,380. <br />2. Pipe tl:1e ditch below North Poudre #6 dam; $444,600. <br />3. Pipe a portion of North Poudre's Buckeye Lateral; $122,200. <br /> <br />The Company was approved for a $500K Authorization from the Construction Fund for these <br />projects, 70% of the estimated total cost of $713K. These facilities are located north of Fort <br />Collins, generally in the vicinity of the Town of Wellington. <br /> <br />Smith Geotechnical Engineers has completed a draft feasibility study, In summary, these projects <br />have relatively high benefit/cost ratios, and relatively low cost per acre-foot delivered. Portions <br />of the feasibility study are attached. <br />