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Council backs $3.5M loan participation, moves to replace Plum Creek reuse reservoir and pump station
Summary
Council ratified authorization for Plum Creek Water Reclamation Authority to enter a $3.5M direct loan at 3.5% for a full reservoir and pump‑station replacement; low bid for the full project was $7.6M and Castle Rock Water will fund its share through per‑1,000‑gallon charges. Vote was 6-0.
Mark Marlowe presented the Plum Creek Water Reclamation Authority’s recommendation to replace the reuse reservoir liner and pump station. The authority received a low bid of $7.6 million for the full project; the authority secured a $3.5 million direct loan at 3.5% for 30 years. Castle Rock Water — an owner in the authority — will pay its share through a per‑1,000‑gallon charge and a mix of the loan and self‑funding.
"3.5 percent for a 30 year term," Marlowe said when describing the loan terms the authority obtained through the Colorado Water Resources and Power Development Authority. He told council the preferred option was to complete the full project now rather than a partial liner replacement, and staff recommended the town ratify the authority’s loan and related construction and construction‑management contracts.
Council noted that the project primarily serves the golf course customers and that Castle Rock Water would spread the cost over time; the council approved the resolution authorizing the loan and contracts on a 6-0 roll‑call vote. Staff said the project is scheduled to be completed before the 2026 irrigation season.
