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<br />An $85,500 CWCB loan at 2,5% interest over a 30-year repayment <br />period would calculate to an annual payment of approximately <br />$4,500. The loan payment of $4,500 amounts to approximately $3,75 <br />per acre foot of water diverted into recharge. Current market <br />value for augmentation water in that portion of the river is <br />approximately $20 per acre foot. The loan payment can be easily <br />offset with savings from a reduction in GASP assessments and the <br />revenue generated from the lease of excess augmentation credits <br />from the project, Victor Quint's ability to make loan payments <br />will only improve over the period of the CWCB debt retirement <br />because as the loan payment remains the same GASP assessments and <br />the value of excess augmentation water will continue to increase. <br /> <br />Collateral <br /> <br />1. Victor Quint can offer as collateral, 5 acres of land with <br />improvements located in the SWl/4 of Section 31, T5N, R54W. <br /> <br />2. Victor Quint can offer as collateral, all of the project <br />facilities. <br /> <br />Institutional Considerations <br /> <br />Victor Quint needs authorization to borrow $85,500 from the CWCB <br />Construction Fund, The loan, if approved, from the CWCB will be <br />contingent upon the successful negotiation of a contract between <br />the CWCB and Victor Quint, Agreements with contractors will be <br />finalized upon authorization of the CWCB loan. <br /> <br />Opinion of Feasibility <br /> <br />The selected alternative is technically and financially feasible. <br />There are no known roadblocks, which would keep Victor Quint from <br />successfully completing this project, <br /> <br />Feasibility Study <br />Victor Quint <br />Aug Project <br />July 2003 <br /> <br />8 <br />