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<br />, <br /> <br />) <br />, <br />J <br /> <br />, <br /> <br />STATE OF COLORADO <br /> <br />e <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) 866-4474 <br /> <br />Q <br /> <br />Bill Owens <br />Governor <br /> <br />MEMO&<\.NDUM <br /> <br />Greg E. Walcher <br />Executive Director <br /> <br />DATE: <br /> <br />Colorado Water Conservation Board Members <br /> <br />Larry Lang, Chief, Flood Protection Section LJTL/ ( <br />Mike Serlet, Chief, Project Planning and Construction SectioI~) <br /> <br />January 13,2000 <br /> <br />Peter H. Evans <br />eWeB Director <br /> <br />TO: <br /> <br />FROM: <br /> <br />Dan McAuliffe <br />Deputy Director <br /> <br />SUBJECT: <br /> <br />Agenda Item # H.e, January 26-27, 2000, Board Meeting - Water <br />Project Construction Loan .Program - Changes in Existing Loans - <br />Skyrocket Creek Deflection Structure Rehabilitation <br /> <br />e INTRODUCTION <br /> <br />Due to findings and recommendations by the Corps of Engineers in their <br />environmental assessment and archaeological investigation report, the Corps' project <br />design and construction materials for the subject project were changed. This major <br />project modification resulted in a substantial increase in the estimated project cost. In <br />addition to this project cost increase, the City did not receive an Energy Impact Grant <br />from the Department of Local Affairs (Department) as originally requested. This denial <br />was based on a change in the Department's funding guidelines for the City's funding <br />request. Due to the increase in the estimated project cost and the funding request denial <br />from the Department of Local Affairs, the City is requesting a $30,000 increase in their <br />previously authorized loan. <br /> <br />BACKGROUND <br /> <br />e <br /> <br />A $25,000 loan for the rehabilitation of the Upper Skyrocket Creek Deflection <br />Structure located above the City of Ouray in Ouray County, Colorado, was approved in <br />1999 through 5B 99-173. The loan to the Skyrocket Creek Project covered 35% of the <br />estimated project costs of $133,450 at the municipal middle income interest rate of 4.50% <br />over 20 years. The project was to upgrade and improve an existing flood and debris flow <br />deflection structure on Skyrocket Creek upstream of Highway 550. The existing <br />structure was built in 1929 following 3 disastrous floods. The Corps of Engineers in <br />conjunction with the City of Ouray and Colorado Water Conservation Board have <br />