The following table summarizes Grant/Loan appropriations we have received to date from the State of Wyoming for this project:
~ 2009 Appropriation: $11,222,500 (67% grant) + $5,527,500 (33% loan) = $16,750,000 (total)
~ 2010 Appropriation: $16,415,000 (67% grant) + $8,085,000 (33% loan) = $24,500,000 (total)
~ 2011 Appropriation: $32,362,500 (67% grant) + $15,939,739 (33% loan) = $48,302,239 (total)
~ 2012 Appropriation: $30,000,000 (67% grant) + $14,776,119 (33% loan) = $44,776,119 (total)
Total Grant/Loan Appropriation(s) Received To Date (before this amendment) = $90,000,000 (67% grant) + $44,328,358 (33% loan) = $134,328,358 (total)
The current grant appropriation approved by the 2013 Wyoming State Legislature is summarized as follows:
~ 2013 Appropriation: $30,000,000 (67% grant) + $0 (33% loan) = $30,000,000 (total)
Total Grant/Loan Appropriation(s) Received To Date (after this amendment) = $120,000,000 (67% grant) + $44,328,358 (33% loan) = $164,328,358 (total)
Future (2014) appropriations are summarized as follows:
~ 2014 Proposed Appropriation: $25,792,000 (67% grant) + $0 (33% loan) = $25,792,000 (total)
Total Anticipated State Appropriations: $145,792,000 (67% grant) + $44,328,358 (33% loan) = $190,120,358 (total)
The 33% loan portion has a term of five (5) years from the date the WWDC determines project benefits accrued to the City, at an annual rate of four percent (4%) interest. A portion of the revenue, up to $75 million - to be collected from Capital Facilities Tax revenue, is intended to re-pay the loan at the time the project is complete.
The City of Gillette approved a Project (funding) Agreement with the WWDC in 2009 for the original 2009 grant/loan appropriation(s). Subsequent approvals have taken place by the City of Gillette for Amendment No. 1 (2010 grant/loan appropriation), Amendment No. 2 (2011 grant/loan appropriation), and Amendment No. 3 (2012 grant/loan appropriation).
In harmony with the 2011 Enrolled Senate Act No. 36, the Wyoming Water Development Commission Staff, working in conjunction with the Wyoming Attorney General's Office, drafted the enclosed "Amendment No. Four to the Project Agreement for the Gillette Madison Pipeline Project" for approval by the Governing Body of the City of Gillette.
The 33% loan portion was not requested as part of the 2013 Legislation and will not be requested as part of the upcoming (2014) Legislation. Campbell County Capital Facilities Tax revenue that we have collected since October 1, 2011 is intended to match the 67% grant after the current 33% loan appropriations(s) have been completely withdrawn and expended.