PUB00141 - Laserfiche WebLink

Home Browse Search

"\\-. llh COLORADO WATER CONSERVATION BOARD Handy Ditch Company Welch Reservoir Project January. 1991 Introduction Welch Reservoir is located in Larimer County approximately 3 miles west and 1 mile north of Berthoud, Colorado. Welch Reservoir is owned by the Handy Ditch Company. The reservoir has a capacity of 6.747+ acre feet of water. The reservoir provides supplemental water for lO,OOO acres of agricultural land in Larimer and Weld Counties. Problem The State Engineer has imposed storage restrictions on Welch Reservoir after a sink hole developed near the outlet works in June of 1990. Temporary repairs were made to allow the reservoir to be used during the remainder of the 1990 irrigation season, As of September 30. 1990 the No.1 outlet works could no longer be used until permanent repairs are made. To avoid restrictions the company had a feasibility study performed to identify the problems. The study was performed by Rocky Mountain Consultants, Inc. of Longmont. Numerous repair and improvement projects have been undertaken in past years by the Handy Ditch Company for which funding has been obtained by various sources. The Handy Ditch Company is therefore requesting loan monies to repay an existing loan from the Wichita Bank of Cooperatives in the amount of $120,000. The total loan request is $l90,000 for a new outlet and $120,000 for loan consolidation for a total of $310,000 for a period of 40 years. Proposed Proiect The project consists of removing and replacing the old outlet structure, reconstructing the embankment and installation of new gates and trash rack. Total cost for the project including engineering is estimated to be $190,000. Proposed Financing The Handy Ditch Company proposes to borrow the $l90,000 for the project from CWCB. The Company wishes to refinance $120.000 borrowed from the Wichita Bank of Cooperatives into the same loan. The repayment on $3l0,000 at 5 percent for 40 years ($19,000/year) would be $760,000. The Handy Ditch 3648E*