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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />PROJECT COST <br /> <br />The cost of Alternative 1 in terms of lost water is potentially 2,600 acre-feet times it's market <br />value of $2,500 per acre-foot for a cost of $6,500,000. The cost to construct a new reservoir, <br />based on analysis we have conducted on potential reservoir sites for other companies, would be <br />expected to be in the range of $3,000 to $5,000 per acre-foot of storage. An analysis of an actual <br />site was not conducted for this study but was considered based on the costs anticipated for other <br />projects for new storage reservoir. Based on the a cost of $5,000 per acre-foot of storage the total <br />cost would be $13,000,000. Both of these options come at a higher cost than Option 3 which is <br />a cost of $1,129 per acre-foot or a total cost of $2,936,266 to recover the 2,600 acre-feet of lost <br />storage. <br /> <br />The opinion of cost to recover storage is based on a bid provided by Barker Construction, Fort <br />Collins, Colorado which is included in Appendix E of this study. Barker is the company that <br />provided the construction services for the rehabilitation of Reservoir No.8. The price bid by <br />Barker was $0.70 per cubic yard of excavation from the reservoir which is equal to $1,129 per <br />acre-foot of recovered storage. Due to practical considerations such as areas to store the excavated <br />materials outside of the reservoir and easily accessible excavation areas inside the reservoir, the <br />total amount of material to be removed was limited to 1,000,000 cubic yards at a cost of $0.70 per <br />cubic yard for a total cost of $700,000. The amount removed provides for approximately 620 <br />acre-feet of recovered storage. It was deemed "not practical" to recover the full 2,600 acre-feet <br />of lost storage by excavation. <br /> <br />1../1.0 <br />/.,<--{-{! <br /> <br />Following is a summary of all project costs including engineering fees and contingencies. <br /> <br />Item <br />1. Construction Costs <br />2. Engineering Fees & Contingencies <br />TOTAL <br /> <br />Estimated Cost <br />$ 700,000 <br />$ 50,000 <br />$ 750,000 <br /> <br />The WRCC is seeking funding through the Colorado Water Conservation Board "Small Projects <br />Fund" to fmance 90% of the expected cost of $750,000. The irrigation Company will fund the <br />remaining amount through an increase in assessments and/or a short term loan through a private <br />institution. <br /> <br />FUND REQUIREMENT SCHEDULE <br /> <br />The expected fund requirement schedule for the project, with an estimated project total cost of <br />$750,000 is as shown below. This schedule is based on construction starting in the spring of 2003 <br />and being completed by the spring of 2004. <br /> <br />The Fund Requirement Schedule shows the funds required by the Company and the CWCB to <br />complete the project on the schedule shown. The costs for 2003 and 2004 are for the expenses <br />expected during construction. The funds shown for 2005 through 2034 are the loan payments the <br /> <br />Windsor Reservoir & Canal Feasibility Study <br /> <br />Page 8 <br />