Laserfiche WebLink
<br />. , <br />." <br /> <br />,- <br /> <br /> <br />RECEI\tt::L. <br />NOY 20 1995 <br /> <br />.-:1--.....,;.. ~.:.;; <br />...~. . <br />:"-, :...c"'~.".. :. -/-, <br />:...- '. . '~.'. "'. ~"-. - - - <br />"': 'T,~. ~"',~..::~. ~ <br /> <br />Colorado Water <br />Conservation Board <br /> <br />COlORADO mvER WATER <br />~==--- CONSERVATION DISTRK:T <br /> <br />15 November 1995 <br /> <br />Mr. Michael Serlet <br />Department of Natural Resources <br />Colorado Water Conservation District <br />1313 Sherman, 7th Floor <br />Denver, CO <br /> <br />r <br /> <br />SUBJECT: Repayment Contract - Wolford t.lotmtain Project <br />Dear Mike: <br /> <br />As we previously discussed, there are some issues surrotmding <br />repayment of the loan on the Wolford Motmtain Project which need to <br />be rrodified, specifically the timing ,and the, arrotmt .Tne project <br />construction started' approximately six 'roc;nths' late,' but. proceeded' <br />at a rrore rapid rate than expected. . We carpleted construction on <br />the darn this year, and started filling on May 20, 1995. We are <br />however, still workin5;}' on .the recreation area, with corrpletion <br />scheduled for the Sprmg of 1996. We will tlrus not be able to <br />finalize the project construction cost, and thus the total arrount <br />of the loan, untll early next stmtner. <br /> <br />In as much as the contract calls for repa~t to be carrnenced <br />on Janumy 1 of the year following initial flll of the reservoir <br />(Para~ph 16), with a specified repayment obligation based upon a <br />$20 !!Ullion loan, we are requesting that both of these tenus be <br />rrodified. We would propose that the arrotmt of the anrrual re~t <br />be fixed early next sumner, when the total arrount has be final1zed, <br />and then the date of the payment can be set shortly after that <br />detennination. We anticipate that additional requests for <br />reimbursements will be less than $2.5 million, and that we will not <br />fully draw down the $20 million authorized for a loan. <br /> <br />I appreciate. the cooperation of the CWCB staff in this matter. <br /> <br />Sincerely yo <br /> <br />t.. <br />ii~: <br />:;:: <br />~::. <br /> <br /> <br />David H. Merritt, <br />Project Manager <br /> <br />t:~ <br />i:::; <br /> <br />P.O. BOX T1IS . KREMMlING. CO 80459 <br />Phone (303) 724-3460 . FAX.(303) 724-3433 <br /> <br />ATTACHMENT 1 <br />