Colorado Water Resources and Power Development Authority

COLORADO WATER RESOURCES AND POWER DEVELOPMENT AUTHORITY

Logan Tower Bldg
1580 Logan Street, Suite 620
Denver, CO 80203-1942
(303) 830-1550
(303) 832-8205 [Fax]

BACKGROUND

The Colorado Water Resources and Power Development Authority (CWRPDA or Authority) was created by the Colorado State General Assembly in 1981. The Authority has evolved into a major financing resource for water and wastewater utilities throughout Colorado. In the 1980’s, the Authority was involved with many water projects and basin-wide studies, the satellite stream monitoring system, the financing of the Stagecoach Reservoir Project and negotiations involving the Animas-La Plata Project. Starting in 1989, the Authority began focusing on financing activities with the first bond issue for the Water Pollution Control Revolving Fund. In 1990 the Authority completed its first “pooled” financing for the Small Water Resources Projects Program. In 1997, the Authority completed its first financing for the Drinking Water Revolving Fund. With statutory changes adopted in 2003, the Authority may fund loans of up to $500 million per borrower per project. In 2008 a Bill was enacted giving the Authority the ability to issue bonds for certain "Forest Health Projects," and in 2013 the Bills sunset provision was extended to 2023. In 2013 the Authority's "Forest Health Projects" Bill was amended to add "a project to harvest woody vegetation for, or use woody vegetation in, the production of energy, fuels, forest products, or other applications (biomass)." In May 2015, Governor Hickenlooper signed Senate Bill 15-121 amending the Authority’s statue to allow private nonprofit entities who operate public water systems with projects listed on the drinking water revolving fund eligibility list to receive financial assistance from the DWRF.

MISSION

The Authority provides low-cost financing to governmental agencies in Colorado primarily for water and wastewater infrastructure development. It is the policy of the Authority to assist local governments and eligible private not for profits with financing water and wastewater infrastructure in a manner that is flexible and cost-effective yet does not jeopardize the Authority's principal or security.

MANAGEMENT

The Authority is governed by a nine-member Board of Directors appointed to four-year terms by the Governor and confirmed by the Senate. The Board members are chosen geographically from the eight major drainages basins around the State and from the City and County of Denver. The current Board includes:

Greg Fisher (Chairman)-- City and County of Denver
Don Carlson (Vice Chairman)-- South Platte Drainage Basin
Roy Ellsworth Heald (Secretary/Treasurer)-- Arkansas Drainage Basin
*Steve Vandiver-- Rio Grande Drainage Basin
Robert Edward Wolff--San Miguel-Dolores-San Juan Drainage Basin
R. Bruce Smith--Main Colorado Drainage Basin
H. Webster Jones--Yampa-White Drainage Basin
*Michael Berry-- Gunnison-Uncompahgre Drainage Basin
*George Corkle--North Platte Drainage Basin

*As of February 1st, 2016 the following Board members have been appointed by the Governor but still need to be confirmed by the Senate. 

[Tentative] Meeting Dates for 2016:

January 27, 2016
March 8, 2016
April 22, 2016
June 3, 2016
August 24, 2016
October 7, 2016
December 2, 2016

Application Deadline            Loan Type                 Authority Tentative Board Meeting Date

January 15                                Direct Loan                     March Board Meeting
                                                  Leveraged Loan
                                                (Spring Bond Issue)

February 15                              Direct Loan                     April Board Meeting
April 15                                    Direct Loan                       June Board Meeting
June 15                                     Direct Loan                
                                                Leveraged Loan                August Board Meeting
                                                (Fall Bond Issue)

August 15                                  Direct Loan                     October Board Meeting
October 15                                Direct Loan                     December Board Meeting
November 15                            Direct Loan                     January Board Meeting

RELATED LINKS

Colorado Water Resources and Power Development Authority

Colorado Water Quality Control Division

Colorado Department of Local Affairs

Colorado Rural Development Council

Colorado Water Conservation Board

Colorado Wastewater Utility Council