Laserfiche WebLink
<br />, <br /> <br />. <br /> <br />. <br /> <br />Proiect Description <br />Four alternatives were analyzed in the feasibility study: <br /> <br />1. The no-action alternative <br />2. Continue a level of minimum maintenance <br />3. Rehabilitate only the river diversion structure ($280,000) <br />4. Rehabilitate both the river diversion and headgate structures ($353,981) <br /> <br />While Alternative 4, rehabilitate both the river diversion and head gate structures, has a significantly higher <br />initial cost than Alternative 3, it is considered to be a more reliable approach. Alternative 4 also has a lower <br />cost than rehabilitating the diversion now, and then rehabilitating the headgate separately at a later date. <br />The no-action and the minimum maintenance alternatives were considered unacceptable since both would <br />eventually result in partial or total failure of the diversion and inability of the SIC to deliver water. <br /> <br />Selected Alternative 4 involves construction of reinforced monolithic concrete floors for the new diversion <br />and headgate structures. These concrete structures will be supported by pipe piling, and surrounded by <br />sheet piling driven into the riverbed. All wing walls and support walls will be 15 inches thick, and steel <br />reinforced. A 100-foot Obermeyer Pneumatic Spillway gate will be installed in the river diversion, and two <br />radial gates, 10 feet in width each, will be installed in the headgate. <br /> <br />(The project that the SIC plans to undertake is very similar to 2 recently completed projects, also funded in <br />part by the CWCB. The South Platte Ditch' Company and Weldon Valley Ditch Company rehabilitated <br />their river diversions in 1996 and 1997 respectively. Both projects included the use of Obermeyer <br />Pneumatic gates, and both have operated well.) <br /> <br />The implementation schedule calls for completion of financing arrangements in 1998/1999, with formal <br />approval and resolution by the SIC shareholders in early 1999. Engineering design will be finalized by July <br />1999, and construction is scheduled for completion in November 1999. <br /> <br />Financial Analvsis <br />The total estimated cost of the project is $353,981. Staff is requesting that the Board consider a loan of <br />$318,583 (90 percent of the estimate cost.) The SIC will establish a one'time assessment of shareholders <br />to raise the remaining 10 percent of the project cost. That assessment will be $23.62 for 1999 only. <br /> <br />Table I is a summary of the tinancial aspects of the project. Annual assessments will increase from $40 per <br />share, up to $53.39 per share with a Construction Fund loan of$318, 583. This represents an annual <br />assessment increase of$13.39, or $0.73 per acre-foot of water diverted. <br /> <br />Table I. Sterling Irrigation Company Financial Summary <br /> <br />Project Cost $353.981 <br />Loan Amount (90% of Project Cost) $318.583 <br />CWCB Loan Payment Amount $17,275.80 <br />Number of Shareholders 88 <br />Number of Shares of Stock 1290 <br />Current Assessment per Share $40 <br />Future Assessment per Share $53.39 <br />Annual Project Cost per acre-foot (Annual diversions: 23.563 acre-feet) $0.73 <br /> <br />2 <br />