FINANCIAL_SERVICESRECOMMENDED

CWCB Recommends $8M Emergency Loan to Ridgway for Water Diversion Project

The Colorado Water Conservation Board staff recommended a loan of up to $8,080,000 to the Town of Ridgway for the Beaver Creek Diversion Restoration project, with a 30-year term including 3 years of zero interest. The loan, funded by the Severance Tax Perpetual Base Fund, aims to support the critical restoration of the town’s primary water diversion system following severe flood damage.

Status
RECOMMENDED
Document date
November 20, 2024
Contract type
FINANCIAL_SERVICES
Vendor
Town of Ridgway
Agency
Department of Natural Resources · CO

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $8,080,000 ($8,000,000 for project costs and $80,000 for the 1% service fee)
Contract type
FINANCIAL_SERVICES
Contract term
3 years of no interest followed by 27 years at 3.25% interest per annum (total 30 years)
Renewal date
2055-11-20
Renewal
No explicit renewal clauses noted. Loan allows incorporation of future grant funds to pay down principal. 30-year loan contract as per policy.
Document type
Report
Source document
colorado-water-conservation-board-report-november-20-2024_788.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Department of Natural Resources?

Town of Ridgway was awarded this financial services contract by Department of Natural Resources, as recorded on November 20, 2024. The contract value is Not to exceed $8,080,000 ($8,000,000 for project costs and $80,000 for the 1% service fee).

How much is the Town of Ridgway contract with Department of Natural Resources worth?

The Town of Ridgway contract with Department of Natural Resources is valued at Not to exceed $8,080,000 ($8,000,000 for project costs and $80,000 for the 1% service fee), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a report record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in colorado-water-conservation-board-report-november-20-2024_788.pdf (Report), dated November 20, 2024 from Department of Natural Resources. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Town of Ridgway hold?

Town of Ridgway may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Department of Natural Resources currently buying?

Explore Department of Natural Resources's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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