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<br />· Li <br /> <br />, <br />.. -. <br /> <br />Mr. Bill Green <br />January 10, 1995 <br /> <br />Page 2 <br /> <br />cost again to reflect the possibility of improvements which would include raising the dam two feet <br />above the level recommended in the Feasibility Study, For your information we have enclosed a <br />copy of the updated cost estimate with this letter, A summary of the project cost is presented below. <br /> <br />Total Estimated Construction Cost <br />Contingency (20%) <br />Total Estimated Cost <br /> <br />$545,207 <br />$109,041 <br />$654,248 <br /> <br />Update Feasibility Study (Estimate) <br />Engineering (15%) <br />Legal and Administration (5%) <br /> <br />$15,000 <br />$98,137 <br />$32,712 <br /> <br />Total Project Cost <br /> <br />$800,098 <br /> <br />The construction cost estimate includes a 20 percent contingency due to the conceptual nature of the <br />design. The project cost includes Engineering, Legal, and Administration costs as well an estimated <br />cost for updating the feasibility study, Please update the loan application to reflect this updated <br />project cost. It is my understanding that the CWCB will loan up to 75% of the total project cost <br />which amounts to $600,074 based on the updated figures above. <br /> <br />As you know, the City of Victor has an agreement with the Cripple Creek and Victor Gold Mining <br />Company to supply the mining company with water. Specifically the City has agreed to supply the <br />mining company with a flow rate of 600 gallons per minute with an annual volume limit of 550 acre- <br />feet. The mining company will not be participating in construction costs involved in rehabilitating <br />the Dam. However, rehabilitation of the dam will reduce the chances of dam failure. If the dam <br />fails, it would have a major impact on the City's ability to provide water to the mining company, <br /> <br />Although there is no specific schedule for construction of the improvements to the dam, the City <br />believes it will occur sometime in 1996. At this time we are not certain what types of permits will be <br />required for construction, but in any case we will involve the US, Army Corps of Engineers. It is <br />not likely that a 404 permit will be required but if it is it will most likely be a nationwide permit. <br /> <br />I hope that this letter contains all the information you require to complete the application, Please call <br />if you have any questions, <br /> <br />Sincerely, <br />Greenhorne & Q'Mara, Inc. <br /> <br />flcdf dK <br /> <br />Matthew J. Ursetta P.E. <br />Project Manager <br /> <br />CC: Jim Muntzert, Mayor of Victor <br />Enclosures (1) <br />