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'" 103' B. Description of the Project Sponsor, and the Project Service Area: 1. The Town of New Castle is a Statutory Town fonned in accordance with CRS 31-1-203. 2. The Town's existing raw water supply fucilities consist ofa gravity pipeline from East Elk Creek approximately 1.7 miles to the north west of the city limits. (See map in Appendix 2). The gravity pipeline is fed by the headworks on the pre-sedimentation pond located immediat1y adjacent to East Elk Creek at the point of diversion in the creek. 3. The service area for the Town of New Castle Water Enterprise consists of the Town, Elk Creek Subdivision, 3 Elk Run Subdivision, Cedars P.U.D. and a few single fumily residences located between the water treatment plant and the north/west city limits. (See attached map, Appendix 2). 4. Water demands of the Town's customers are shown in Appendix A. Summer time demand placed on the Town's water system is requiring the production of 665 .15 EQR considering all of the physical users on line now. When considering all of the users plus committed taps, the Town places a 761 EQR demand on the system. The water system can supply 661 EQR during high turbity times (ie, high runoff of East Elk Creek). Based upon the past four years, the developer of Castle Valley Ranch has been adding on an average 50 units or 50 EQR demand to the system on a yearly basis. 5. The Town has 736 customers for its water. There are 671 residential customers, 32 commercial customers, and 33 other customers. 6. The Median Household Income for the Town of New Castle (1990 census) is $27,266 per year. This is a fuir estimate of the Median Household Income for the service area 7. The Town's financial condition appears good at the present time. The Town is not in defiwlt on any ofits current obligations. The Town has two existing loans. One with the Dept. ofI~cal Affairs and the second with Colorado National Ban1e The loan with the Dept. of Local Affuirs was for $60,000 and will be paid off in the year 2004. The loan with Colorado National13ank was for $17,000 and will be paid off in the year 2000. The Town collected water service fees of$58,761, $72082 and $87,000 (proj.) in the years 1993, 1994 and 1995 respectively. In addition, the Town collected water tap fees of $65,100, $135,750 and $252,000 (proj.) in the years 1993, 1994 and 1995 respectively.