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<br />,I <br /> <br />Financial Analysis <br /> <br />Several entities will be involved in financing the estimated total project cost of <br />slightly more than $1 million. The Town of New Castle is applying for a loan from <br />the CWCB in maximum amount of $700,000. The actual or estimated amounts by <br />entity are given in Table 2. <br /> <br /> a e . ources 0 un 19 <br />Entity Grant Loan Percent <br /> Participation <br />CWCB $0 $700,000 69% <br />CO River Water $15,000 $0 1.5% <br />Conservation <br />District . <br />TOWN OF $91,900 $0 9% <br />NEW CASTLE <br />CO Dept. of $200,000 $0 20% <br />Health SEP <br />Totals $306,900 $700,000 $1,006,900 <br /> <br />T hi 2 S <br /> <br />fF din <br /> <br />The Town of New Castle willcover any costs that exceed the estimated project <br />cost. <br /> <br />The Town of New Castle is requesting a 30-year loan from the CWCB. The <br />standard municipal lending rate would be 4.5%, resulting in annual payments of <br />$47,271 including the 10% reserve requirement. <br /> <br />Table 3 is a summary of the financial aspects of the project. <br /> <br />The Town will service the debt from the Utilities Enterprise Fund, which includes <br />tap fees and monthly charges including capital and operational components. The <br />current water rates would be raised approximately $4.00 per month to repay the <br />CWCB loan. <br /> <br />12 <br /> <br />CFlA902 <br />