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<br />- <br /> <br /> <br />Upper Platte and Beaver Canal Company <br />March 21,22, 2Q02 <br /> <br />Agenda Item 10, <br />(Updated March 22, 2002) <br /> <br />Water Project Construction Loan Program-Project Data <br /> <br />Borrower: <br /> <br />Upper Platte and Beaver Canal Co. County: Morgan <br /> <br />Project Name: <br /> <br />Upper Platte and Beaver Diversion Project Type: Rehabilitation <br /> <br />Drainage Basin: <br /> <br />South Platte <br /> <br />, Water Source: South Platte <br /> <br />Total Project Cost: $95,000 <br /> <br />Funding Sources: CWCB, Company <br />Median Household Income: N/A <br /> <br />Type of Borrower: Agricultural <br /> <br />CWCB Emergency Loan: $83,000 <br /> <br />Interest Rate: 2,25% <br /> <br />Term: 10 years <br /> <br />CWCS Grant: $2,500 <br /> <br />Average diversions: 30,000 acre-feet <br /> <br />The Upper Platte and Beaver Canal Company operates their Canal for the benefit of their 100 <br />shareholders by providing direct flew irrigation water to an 11,OOO-acre service area, The diversion <br />and headgate are located on the South Platte River, about one mile northeast of Fort Morgan. <br />The Company recently discovered that the diversion structure has been seriously undercut and is <br />in danger of failure, This constitutes an emergency requiring the structure be rehabilitated <br />immediately. Average diversions are 30,000 acre-feet. The Upper Platte and Beaver Canal <br />Company is a mutual ditch company and a nonprofit corporation registered in the State of <br />Colorado. Jack Odor, P.E, has completed preliminary plans and specifications for the project <br />and a draft feasibility study, Proposed funding for the project consists of a CWCB Emergency <br />Loan for $83,000, a $2,500 CWCB grant engineering and feasibility work, and $9,500 from the <br />Company, <br /> <br /> <br />~~ <br />- ~;,~-"-' -.. <br />, <br /> <br />. ' <br /> <br />, <br /> <br />,)AoI <br /> <br /> <br />~-,,^",-"-' <br /> <br />Location Map <br /> <br />5 <br />