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<br />Loma OitCi'l and Lateral Company <br />September "-12, 2002 <br /> <br />Agenda Item 12e <br /> <br />Water Project Construction Loan Program-Project Data <br /> <br />Borrower: <br /> <br />Lorna Ditch and Latera! Co. <br /> <br />County: Mesa <br /> <br />Project Name: Lorna Ditch <br /> <br />Project Type: Rehabilitation/Replacement <br /> <br />DraInage Basin: Colorado River <br /> <br />Water Source: Colorado River <br /> <br />Total Project Cost: $278,041 <br /> <br />Funding Sources: NRCS, CWCB <br /> <br />Type of Borrower: Agricultural <br /> <br />Aver. Delivery: 3505 acre-feet <br /> <br />CWCB Small Project Loan: $ 178,000 <br /> <br />Interest Rate: 2.75% <br /> <br />Term: 30 years <br /> <br />The Lorna Ditch and Lateral Company (LDLC) is a non-profit corporation registered in the State of <br />Colorado since 1911. It is located about 15 miles northwest of Grand Junction in and near the <br />community of Lorna. It operates as a carrier ditch for the benefit of its 81 shareholders by delivering <br />irrigation water from the Keiffer Extension to the Grand Valley Irrigation Company for irrigation <br />within an 800-acre area. LDLC needs to complete its system upgrade by placing the remainder of <br />its ditch (about 1.5 miles) in an 80 psi pressurized piperine. The NRCS has completed planning and <br />design as well as a cost estimate for the construction of the project and LDLC has completed the <br />feasibility study. Proposed funding for the project consists of a loan from CWCB for $178,000 and <br />the remainder from NRCS in the form of grant under the government's salinity program. The <br />estimated total cost of the project is $278.041. During construction the CWCS loan will be for <br />$250.235, reducing to $178,000 when NRCS funds are received following project completion. <br /> <br /> <br />~_ lie <br /> <br />--::r----- .'" <br />Project <br />L . " <br /> <br />.JC3tI01L, <br /> <br /> <br />o <br />. <br />. <br /> <br /> <br />o <br />. <br /> <br />uo " <br /> <br />/ <br />/ <br />" / <br />or" <br />. . <br /> <br />Location Map <br /> <br />Page 6 of 6 <br />