18 ‎(3)‎

• Board Meeting Date: 5/21/2008
• Description: CF Section - New Project Loans - Granby Ditch and Reservoir Company - Granby #12 Dam Rehabilitation Project
• Board Meetings - Doc Type: Memo

STATE OF COLORADO
Colorado Water Conservation Board
Department of Natural Resources
1313 Sherman Street, Room 721
Denver, Colorado 80203
Phone: [phone]
Fax: [phone]
www.cwcb.state.co.us
Bill Ritter, Jr.
Governor
TO: Colorado Water Conservation Board Members
Harris D. Sherman
DNR Executive Director
FROM: Anna Mauss, PE
Jennifer L. Gimbel
Mike Serlet, PE, Chief
CWCB Director
Water Supply Planning & Finance Section
Dan McAuliffe
CWCB Deputy Director
DATE: May 13, 2008
Agenda Item 18, May 20-21, 2008 Board Meeting
SUBJECT:
Water Supply Planning and Finance Section – New Project Loans
Granby Ditch and Reservoir Company – Granby #12 Dam Rehabilitation
Project
Introduction
The Granby Ditch and Reservoir Company (Company) is applying for a $252,00 0 loan to repair the
dam at Granby #12 Reservoir. The current loan request is for 90% of the estimated total cost of
$280,000. See attach ed Project Data Sheet for a loca tion map and a project summary.
Staff Recommendation
Staff recommends the Board approve a loan not to exceed $254,520 ($252,000 for project costs and
$2,520 for the 1% Loan Service Fee) to the Gran by Ditch and Reservoir Co mpany for the Granby
#12 Dam Rehabilitation Project fr om the Severance Tax Trust Fund Perpetual Base Account. The
terms of the loan shall be a 30-ye ar loan at the blended rate of 2.35% per annum. Security for the
loan shall be in compliance with CWCB Financial Policy #5.
Additional Contr act Conditions:
Staff further recommends that share assessments be increased to cover the CWCB debt service prior
to contracting with the CWCB.
Water Supply Protection • Watershed Protection & Flood Mitigatio n • Stream & Lake Protection • Water Supply Planning & Finance
Water Conservation & Drought Planning • In trastate Water Management & Development