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� • • i' ' � � <br />Colorado Water Conservation Board <br />Department of Naturai Resources <br />i 3l3 Shcrman Strect, Roam 121 <br />Ucnver, Colorado 8�203 <br />Phune: (303) 86(i-3441 <br />fax: (3U3) 8GG-4474 <br />cvN�w.eweb.state.co. us <br />Septernber 19, 2Q11 <br />Mr. Mike Berry <br />Tri-County Water Conservancy District <br />647 North 7`h Street <br />Montrose, CO 8I402 <br />Re: Ridgway Reservoir Micro-Hydro Project <br />Contract Number C � 50324 <br />Dear Mr. Berry: <br />lohn W. Hickenlooper <br />Governor <br />Mike King <br />QMtI:xecutive [Arecior <br />Jennifer E_ Ciimbel <br />cwY13 [�ire�w� <br />I a�n plea�ed to inform you that on September 14, 2011 the Colorado Water Conservation Board <br />approved your loan request for the Ridgway Reservair M:icro-Hydro Project as described in the <br />application and approved Loan Feasibility Study titied "Ridgway Xeservoir Micro-Hydro Project <br />Loan Feasibilzty Study", dated August l, 2011. The Board approved a toan not to exceed <br />$9,090,000 {$9,000,040 for project costs and $90,000 for the I% Loan Service Fee}. Tbe loan <br />terms shall be 30 years at an ii�terest rate of 2.40% per annum. I have attached a copy of the <br />updated Board merno dated September I9, 2�11, that includes the Board's approval. <br />After the Board app.roves a loan there are a few ste�s that remain in the loan process including: <br />Aj Contractin�: An appr.oved. contract must be in place before funds can be disbursed. Vaughn <br />M.cWillian�s will ini.tiate the loan contracting process far lh.is project. When all of the <br />contract conditions are met and fhe contract is executed the Company may request loan <br />funds to cover eli�ible project expenses. You can contact Vaughn at (303) 866-3441. x 3227 <br />regarding the requirements. <br />B} Desig„n/Construction: You must adhere to the CV4'CB Desi.gn and Constrc��tion <br />Administration Procedures. K.irk Russell wi11 contact yc�u regarding tlus phase of lhe <br />process. K.irk vtrill make construction site visi.t�S, whi.ch wil.t be the basis of pay estimates far <br />disbursement of your loan funds. You can contact Kirk at his desk at (3�3) 866-344i x <br />3232 or ce}I pllone (3Q3} 956-5653. <br />On behalf of the Baard, I wauld like to thank you for your interest in a loan from the Cotorado <br />Water Conservation. Board. <br />luterstate & R�ederai • Waterslied & Fiuod Protection • Streari► & Lake Protection • Finance <br />��'ater Informa[ian • Water C.oaserv�tioo & Drou�ht PlAnaing • Water Supply PEanninA <br />