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<br />annual debt service to be greater than reasonable for BRC to <br />accommodate. <br /> <br />COLLATERAL <br /> <br />As security for the CWCB loan, the BRC can pledge assessment <br />income, the project itself and the collateral described in the deed <br />of trust granted for the original loan in 1995. <br /> <br />ECONOMIC ANALYSIS <br /> <br />The economic benefit of the project is considerable in that it <br />results in minimal increase in annual debt service payment, <br />protects a previous project that currently has $377,445.00 <br />remaining owing to CWCB on that project loan, and benefits <br />approximately 3,400 acres of irrigated lands. <br /> <br />SOCIAL AND PHYSICAL IMPACTS <br /> <br />The project will have no significant social impacts, since it <br />will assure the continued operation of a currently existing <br />irrigation system. The project will have minor physical impacts, <br />once construction is complete. The new structure will be in the <br />same location and not create any new or additional impacts. <br /> <br />CONCLUSIONS <br /> <br />1. The Beaver Reservoir Company is an incorporated entity in the <br />State of Colorado with the ability to enter into a contract <br />with the CWCB for the purpose of obtaining a loan. <br /> <br />2. Rights-of -way, easements and permits are adequate for the <br />construction of this project. <br /> <br />3. <br /> <br />The project would provide for the continued delivery <br />irrigation water to share holders and water users. <br /> <br />of <br /> <br />4. <br /> <br />The total estimated cost of the project is $142,800.00 <br />this will be financed, in part, by in-house financing. <br />BRC is applying for a $128,400.00 emergency loan from <br />CWCB. <br /> <br />and <br />The <br />the <br /> <br />5. Beaver Reservoir Company is eligible for a loan from the CWCB <br />Emergency Infrastructure Repair Account because the proj ect is <br />necessary to avoid unreasonable risk of injury or damage to <br />human health or well-being or to property or corps, and <br />because the emergency condition is not the result of <br />negligence in the operation or maintenance of the <br />infrastructure. <br /> <br />6. The project is technically and financially feasible. <br /> <br />Page 15 of 15 <br />