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<br />Social, Economic, and Physical Impacts <br /> <br />The project will have no significant social impacts. <br /> <br />Although BFWD will be impacted with costs associated with their <br />portion of construction and loan repayment, the project will have <br />a long term positive economic impact by assuring a more certain <br />source of augmentation for the BFWD farms. BFWD will also be able <br />to reduce their assessments with LWU and may have excess <br />augmentation water available to lease for financial compensation. <br /> <br />, <br />The project will have no significant physical impacts once <br />construction is complete. The well will occupy a minimal amount <br />of space down close to the river and the pipe lines from the well <br />will be buried underground. The recharge ponds will occupy ground <br />currently used for nothing. This ground will have setting water <br />part of the year but will return to its current appearance once <br />the water percolates back into the ground. <br /> <br />Per.mitting <br /> <br />All easements and rights of way are being arranged for. <br /> <br />BFWD expects to be exempt from 404 permitting. This will be <br />confirmed with the Denver District, Army Corps of Engineers. <br /> <br />Financial Plan <br /> <br />The total cost of the project is $215,000. $193,500 or 90% may <br />come from a loan with the Colorado Water Conservation Board, and <br />the remainder from the project sponsors, BFWD. The CWCB Loan <br />Application is found in Appendix C. <br /> <br />A $193,500 CWCB loan at 2.25% intqrest over a 20-year repayment <br />period would calculate to an annual payment of approximately <br />$13,300. The loan payment of $13,300 amounts to approximately <br />$9.50 per acre foot of water diverted into recharge. Current <br />market value for augmentation water in that portion of the river <br />is approximately $20 per acre foot. The loan payment can be <br />offset with savings from a reduction in LWU assessments and the <br />revenue generated from the lease of excess augmentation credits <br />from the project. BFWD's ability to make loan payments will only <br />improve over the period of the CWCB debt retirement because as <br />their loan payment remains the same LWU assessments and the value <br />of excess augmentation water will continue to increase. <br /> <br />Feasibility Study <br />Buffalo Farms <br />Augmentation Project <br />August 2004 <br /> <br />7 <br />