BOARD02239

• Board Meeting Date: 11/16/2004
• Description: Water Resources and Power Authority Director's Report
• Board Meetings - Doc Type: Memo

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COLORADO WATER RESOURCES &
POWER DEVELOPMENT AUTHORITY

Logan Tower Bldg. - Suite 620,1580 Logan Street, Denver, Colorado 80203..1942
303/830-1550 . Fax [phone] . [e-mail]

MEMORANDUM

November 16, 2004

TO:

Members, Colorado Water Conservation Board, and Rod Kuharich

FROM:

Daniel L. Law, Executive Director

RE:

Director's Report

Water Pollution Control Revolvinl! Fund

Water Pollution Control Revolving Fund loans totaling $60 million and Water Revenue loans
totaling $40 million were executed with the cities of Englewood and Littleton in May. The 21-
year WPCRF loans had rates of 3.87% and 3.82%, respectively. Since WPCRF loan capacity
was not sufficient to cover the $100 million project. the cities agreed to utilize the Authority's
Water Revenue Bond Program, Loan funds will be used to upgrade and expand their jointly-
owned wastewater treatment facility.

Loans to the town of Walsenburg ($2.8 million) and the city of Westminster ($30 million) were
approved earlier this year, but both communities have decided to put their projects on hold until
2005. A loan to Roxborough Park Metro District ($10 million), authorized in 2003, is
anticipated in the spring. A $2 million loan increase to Cortez Sanitation District for additional
costs to complete its wastewater treatment plant and to replace some sewer lines will be
considered at the Authority's December 3rd meeting.

A unique loan with the town of Breckenridge was authorized earlier this year. The $4.5 million
non-point source project loan will be used to acquire open space and clean up the Wellington-
Oro Mine in Summit County. In conjunction with Summit County, Breckenridge. through a
general obligation bond election, will be responsible for the ongoing operations of the project.

Earlier this year the Authority received the 2004 capitalization grant ($10.6 million) from the
V.S, EPA. The 2005 grant amount is uncertain at this time due to differences in the House and
Senate appropriation level for the Clean Water SRF.

At its December 3rd meeting, the Board will be setting the 2005 direct loan rate (loans under $1
million) for the WPCRF program. It currently is 3.5%.

Loan capacity for 2005 is expected to be $66.000.000.