C150228 Feasibility Study - Laserfiche WebLink

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Implementation Schedule The following schedule is proposed for implementation of the project: Task ~GASP liquidation sale 2. Complete Final Purchases 4. Water Useable for Irrigation Date 02/09/06 03/01/06 04/01/06 Social, Economic, and Physical Impacts The project will have no significant social impacts. Although RID will be impacted with costs associated with their portion of the loan repayment, the project will have a long term positive economic impact by assuring the continued normal operation of the district. The project will have no significant physical impacts. Per.mittinq All easements and rights of way are controlled by the Company supplying the water, therefore no further arrangements are required nor are any permits required. Financial Plan The total cost of the project is $1,638,000. $1,450,000 or approximately 90% may come from a loan with the Colorado Water Conservation Board, and the remainder from the project sponsor, RID. The CWCB Loan Application is found in Appendix D. A $1,450,000 CWCB loan at 2.5% interest over a 30-year repayment period would calculate to an annual payment of approximately $69,300. The loan payment of $69,300 amounts to approximately $94 per acre foot of irrigation water produced from the purchased rights or an additional assessment of $3.10 per levied district acre. The $3.10 will be added to the existing acreage assessment of $10.00 bring the RID yearly assessment to $13.10 per acre. This increase will stay in effect throughout the duration of the loan. The increased assessment will bring in the extra revenue needed to cover the CWCB payment. This financial analysis should stay consistent over the period of the CWCB debt retirement. Feasibility Study RID Water Rights Project February 2006 5