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<br />,. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />ST A TE OF COLORADO <br /> <br />Colorado Water Conservation Board <br /> <br />Department of Natural Resources <br />1313 Sherman Street, Room 721 <br />Denver~ Colorado 80203 <br />Phone: (303) 866-3441 <br />FAX: (303) 8664474 <br />www.cwcb.state.co.us <br /> <br /> <br />Bill Owens <br />Governor <br /> <br />MEMORANDUM <br /> <br />Russel George <br />Executive Director <br /> <br />Rod Kuharich <br />eWeB Director <br /> <br />TO: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Mike Serlet, P.E., Chief '-;tt/ r <br />Water Supply Planning an~e Section <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />FROM: <br /> <br />DATE: <br /> <br />January 16, 2004 <br /> <br />SUBJECT: Agenda Item 12 - January 27-28, 2004, Board Meeting <br />Water Supply Planning and Finance - New Financial Policy Review <br />Policy #17 - Application Approval and Use of the Grants From the Feasibility <br />Study Small Grant Fund <br /> <br />Introduction <br /> <br />The feasibility study small grant fund (the fund) was created by the General Assembly in <br />1999 through SB 99-173, the annual Construction Fund bill. The Colorado Water Conservation <br />Board (CWCB) recommended development of the fund at their November 1998 meeting. The <br />CWCB has administered the fund since that time based on the staff recommendations contained in <br />the original board memo proposing the fund, <br /> <br />This agenda item records that recommendation with the formulation of Financial Policy #17 <br />- Application Approval and Use of the Grants from the Feasibility Study Small Grant Fund. <br /> <br />Backl!round <br /> <br />Section 37-60-122.7(5) of the C,R.S. established the fund and recognized that the CWCB <br />shall approve small feasibility study grants based solely on criteria adopted by the board, The <br />purpose of the fund is to make small grants to assist water users evaluate the technical and financial <br />feasibility of proposed water resource projects in accordance with the CWCB Construction Fund <br />Guidelines. The State Auditor, in his 1998 performance audit of the Construction Fund, <br />recommended that methods should be improved to ensure the feasibility of a project prior to loan <br />approvals, This fund is a result of that recommendation, The value of the fund was established at <br />$200,000, <br /> <br />Flood Protection. Water Supply Planning and Finance. Stream and Lake Protection <br />Water Supply Protection. Conservation and Drought Planning <br />