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<br />Implementation Schedule <br /> <br />The SGM is expected to complete the final design by July 2002. Construction will take about <br />three months, and will be completed before April 2003. <br /> <br />Permitting <br /> <br />All easements and rights of way will be arranged for before construction begins. <br /> <br />Institutional Considerations <br /> <br />Entities that are, or may be, involved in the management, design, construction, and financing of <br />the project include: <br /> <br />Glenwood Irrigation (Glenwood Irrigation Company); Project management and <br />construction. <br />Schmueser Gordon Meyer Engineers and Surveyors (SGM); Engineering design <br />Natural Resources Conservation Service (NRCS); Engineering design. <br />Colorado Water Conservation Soard (CWCS); Financing and construction. <br />Colorado River Water Conservation Soard (CRWCS); Grant <br /> <br />The Glenwood Irrigation Company will be the lead for the financing, design, and construction of <br />the project and will enter into contracts and agreements with the various entities for the services <br />provided by each. <br /> <br />Financial Analysis <br /> <br />Several entities will be involved in financing the estimated total project cost of $514,250. The <br />Glenwood Irrigation Company has requested a loan from the CWCS in maximum amount of <br />$385,688, to pay approximately 75% of the project cost. Amounts by entity are given in Table 2. <br />T bl 2 S fF d' <br /> <br /> a e , ources 0 un IDe <br />Entity Grant Loan Percent <br /> Participation <br />CWCB $0 $385,688 75% <br />NRCS Design In-kind - - <br />CRWCD $15,000 $0 3% <br />Glenwood $113,562 $0 22% <br />Irrigation Company <br />* <br />Totals $128,562 $385,688 $514,250 <br /> <br />The Glenwood Irrigation Company will cover any costs that exceed the estimated project cost. <br /> <br />The Glenwood Irrigation Company has requested a 30-year loan from the CWCS. The blended <br />interest rate (determined by the CWCS) would be 4%, resulting in annual payments of $24,536 <br />includes 10% for the emergency reserve account. <br /> <br />Glenwood Irrigation Company <br />Siphon Feasibility Study <br />May 2002 <br /> <br />Page 9 of 11 <br />