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.1 . . :. :. I . . . (c) Before requesting long-term financing, LA WMA would provide the CWCB staff with sufficient documentation and analyses in order that the Board could make a final determination of feasibility. (d) The lending rate for the one-year loan would be 3.5 percent which represented the Board's short-term agricultural lending rate for 1995. The lending rate for long-term financing would be considered at such time as LA WMA applied for the entire amount of the proposed project. SUPPLEMENTAL FEASIBILITY REPORT In early January of this year, LAWMA'sengineering consultant, Helton &.Williamsen of Englewood, submitted a Supplemental Feasibility Report in response to several of the preceding conditions. Specifically, the report is intended to: (1) further document the historical use of the Manvel and X- Y water. rights, (2) refine estimates for augmentation credits from these and other water rights to be used in the augmentation program, (3) estimate water requirements for revegetation on the X- Y Ranch, (4) provide additional financial information, and (5) report on LA WMA's activities to comply with the Arkansas River Augmentation Loan Account requirements in the 1995 Construction Fund bill. The staff review of the Supplemental Feasibility Report, supplemented by discussions with the project sponsor and the sponsor's consultants as well as separate staff analyses, are summarized in the following paragraphs. AUGMENTATION PROGRAM Helton & Williamsen have estimated that, as a result of LA WMA members' well depletions, it may be necessary to be able to make replacements averaging about 3,800 acre-feet per year to Colorado surface water rights in the Arkansas Basin and about 8,000 acre-feet per year to usable flows at the Colorado-Kansas Stateline (these amounts are not additive since replacements to Colorado surface rights will increase Stateline flows). LA WMA currently has available to it a number of water rights. and sources .~f supply to offset a part of these estimated depletions. Helton and Williamsen estimate th3.t the additional consumptive use credits from the proposed acquisitions would be as shown in Table 1: ,. TABLE 1. CONSUMPTIVE USE CREDITS FOR X-V AND MANVEL (Acre-Feet)(1) Water Right Direct Flow Storage Totals X- Y Canal 4,341 1,228 5,569 Manvel Canal 273 578 851 Totals 4,614 1,806 6,420 (1) Averages for 1990-1994 hydrologic conditions - 2 - "