PROJ00150 ‎(2)‎

• Contract/PO #: C150116
• Contractor Name: B.F. & M.E. Porter, LLLP
• Contract Type: Loan
• Water District: 45
• County: Garfield
• Bill Number: SPL
• Loan Projects - Doc Type: Approval Letter

Bill Poner- Barton Poner ReservOir
September 11.12. 2002

Agenda Item 12b.
(Updated September 17. 2002)

rehabilitation and enlargement of the Barton Porter Reservoir. Golder and Associates have also
completed an Engineering Design Report as well as an Environmental Assessment Report for the
project. The State Engineer has approved plans and specifications for construction.

Bill Porter
Bill Porter is an individual rancher/farmer. CRS 37-60-119 (2) specifies that the CWCB may
make loans to individuals for construction of raw water projects,

Water RiQhts
Bill Porter owns water storage rights in the Barton Porter Reservoir in amount of 206 acre.feet,
with a conditional right for an additional 1,000 ac.ft. State Engineer Records indicate that the
reservoir was used to capacity in 1999 and 2000.

Proiect Description
Three alternatives were analyzed in the feasibility study:
1. No Action
2. Construct a new reservoir at a lower elevation.
3. Enlarge the Barton Porter Reservoir ($2 million)

Alternative 2, Construct a new reservoir at a lower elevation, was ruled out due to lack of a
suitable site, and because it would require pumping of reservoir water instead of using the
existing gravity fed system. Alternative 3, Enlarge the Barton Porter Reservoir ($2 million) will
provide the needed additional storage for most of the conditional water right and allow
continued gravity feed to the existing sprinkler irrigation system. This option is considered the
preferred alternative. The na.actian alternative was considered unacceptable since it would
mean the conditional storage right could not be stared for use during periods of drought.

Selected Alternative 3 consists of enlarging the Barton Porter Reservoir by raising the east
dam to a height of 69 feet, and by removing the west dam and replacing it with a new dam 83.5
feet in height. A new spillway and outlet will also be constructed, and the inlet ditch will be
relocated to a higher elevation to gravity feed into the reservoir. The new reservoir will have a
capacity of 1,100 acre.feet and will be a Class 1 structure.

Plans and specifications for this project were submitted to the State Engineer in January 2002,
and have been approved. An environmental assessment has also been completed, and a
federal permit obtained. Construction started in summer 2002 and is approximately 50%
complete. The schedule calls for completion of financing arrangements in early fall 2002, with
construction finished by winter 2002/2003.

Financial Analvsis
The tolal estimated cost of the project is $2,000,000 and the borrower is an individual
farmer/rancher who intends to use the water for agricultural purposes. The CWCS agricultural
lending rate would apply to this borrower. Bill Porter has requested a $1 million loan at 2.5% far
20 years. This loan would represent 50% of the total project cost.

Table 1 is a summary of the financial aspects of the project. A CWCS Small Project Loan of $1
million would have an annual payment of $70,562 (including the 10% reserve requirement) at
the loan terms of 2.5% for 20 years. This represents an annual cost of $64 per acre.foot, based
on the new reservoir capacity of 1,100 acre.feet.

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