Laserfiche WebLink
<br />. <br /> <br />Hvdrolo2V and Water Rights <br />The Company owns 31.85 cubic feet per second in direct flow water rights on Grape <br />Creek and its tributaries, some of which are fairly senior, and 4,326 acre-feet of storage <br />rights in DeWeese Reservoir. For the years 1979 to 1985, the average annual diversions <br />on the DeWeese-Dye system were about 6,200 acre-feet of which releases from DeWeese <br />reservoir accounted for about 2,400 acre-feet of system yield. <br /> <br />Financial Analvsis <br />The total estimated cost for design and construction of the project is $839,000. Staff is <br />requesting that the Board consider a loan for 90 percent of the cost of the project cost less <br />the amount of the CWCB loan and grant for the feasibility investigations. The resulting <br />loan amount would then be $734,000. The Company is seeking the remainder of the <br />funding, about $105,000, from other sources such as moneys which might be obtained <br />from leasing the reservoir site to the Division of Wildlife. The Company is also seeking a <br />grant from Great Outdoors Colorado. <br /> <br />. <br /> <br />Table 1 is a summary ofthe financial aspects of the project. The actual loan amount will <br />be determined after the company has learned how much it may be able to obtain from <br />other sources which are not expected to result in additional debt. As shown in Table 1, <br />assessments may increase from $8.00 per share to about $14 per share with a <br />Construction Fund loan of $734,000. This represents a substantial increase in the per <br />share assessment but failure to repair the dam could also have serious consequences, both <br />physical and monetary. <br /> <br />Table 1. DeWeese Reservoir Financial Summary <br /> <br />Project Cost $839,000 <br />Loan Amount $640,000 to $734,000 <br />Number of Shares 7,250 <br />Number of Shareholders 747 <br />Current Assessment per Share $8.00 <br />Future Assessment per Share $13.85 <br />Cost per Acre-Foot of Reservoir Yield (1) $17.12 <br />Cost per Acre-Foot of System Yield (2) $6.85 <br />MHI Canon City, 1990 $18,423 <br />MHI Fremont County, 1990 $19,988 <br /> <br />(1) Average annual reservoir yield = 2,480 ac-ft <br />(2) Average annual system yield = 6,200 ac-ft <br /> <br />. <br /> <br />As mentioned above, water is used by shareholders for lawn and garden irrigation and for <br />small agricultural operations in the unincorporated Lincoln Park area south of Canon <br />City. Since median household incomes in the service area appear to qualify for the <br /> <br />3 <br />