Laserfiche WebLink
<br />-. ~ <br /> <br />. <br /> <br />,0/:2,&1. <br /> <br />90/.;(80. ';<7 <br /> <br />STATE OF COLORADO <br /> <br />Colorado Water Conservation Board <br />Deparunent of Natural Resources <br /> <br />o <br /> <br />72\ SlaleCenlennial Building MEMORANDUM <br />1313 Shennan Street <br />Denver, Colorado 80203 <br />Phone (303) g66-344\ (UPDATED 2/2/94) <br />FAX (303) 866-4474 <br /> <br />Roy Romer <br />Governor <br /> <br />TO: <br /> <br />Members, CWCB <br /> <br />Ken Sal4ZM .... <br />Executive Director, DNR <br /> <br />FROM: <br /> <br />John Van Sciver <br /> <br />Danes c. lile. P.E. <br />Director. eweB <br /> <br />DATE: January 7, 1994 <br /> <br />SUBJECf: Agenda Item CFd (7a(12)), January 19, 1994, Board Meeting-- <br />-BeaverReservoir Companyand"Loan Cabin Ditch and Reservoir Co. <br />Request for Revised Loan Terms <br /> <br />BACKGROUND <br /> <br />The Beaver Reservoir Company received loan approval November 9, 1993 for <br />funding to rehabilitate the Beaver Reservoir Dam. Loan terms were 3.5% for 30 years on <br />the construction Loan ($343,000), and 0% for 30 years for repayment of the feasibility study <br />costs ($42,000). <br />! The Lone Cabin Ditch and Reservoir Company is having financial difficuhy and is <br />;' currently delinquent on there ($92,000) loan with the CWCs. Lone Cabin is a 3/16 owner <br />in the Beaver Reservoir Co. <br />~ <br /> <br />DISCUSSION <br /> <br />1. The following request for improved financing terms has been made by the Lone <br />Cabin Ditch and Reservoir Co.: <br /> <br />Refinance their existing loan ( Approximately $90,000, 5%, 40 years) to 0% <br />for 40 years. <br /> <br />2: The following request for revised financing terms has been made by the Beaver <br />Reservoir Co.: <br /> <br />a. Revise the financing terms for the $343,000 loan to 2% for 30 years, OR <br />to 3% for 40 years. <br />