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<br />Table 4. Financial Ratios <br /> <br /> <br /> <br /> <br />100% <br />$0.55 <br /> <br /> <br />100% <br />$1.10 <br /> <br /> <br />Alternative financing considerations: The EI Viejo Ditch has investigated alternative <br />financing sources. They have obtained the EQIP cost share grant from the NRCS for <br />the construction of the pipeline project and in-kind assistance for engineering survey, <br />design and construction inspection. <br />Collateral: As security for the CWCB loan the EI Viejo Ditch can pledge assessment <br />income, and the project itself. <br /> <br />Economic Analysis <br /> <br />The economic benefit of the project is considerable. The NRCS estimates the value of <br />property affected to be $1.6 million, within the 1600-acre service area. The short-term <br />value of potential water loss for irrigation for this property in the event the project is not <br />constructed is estimated as $240,000 per year. Using an estimated total project cost of <br />$210,658+$14,400=$225.058 (to cover design, construction of the pipeline project and <br />all appurtenances, construction supervision, and up to $10,000 in cost overrun), the <br />project cost/benefit ratio is $235,058/ $240,000 per year= .0.97 ratio. This does included <br />the energy saving by sprinkler system users estimated at $17,500 per year. <br /> <br />Social and Physical Impacts <br /> <br />The project will have no significant social impacts, since it will assure the continued <br />operation of a currently existing irrigation system. The project will have minor physical <br />impacts, once construction is complete. The new pipeline project will be relocated <br />without affecting the existing ditch channel, which can be used during high water flows <br />to help recharge the ground water and support the channel vegetation. <br />