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<br />Permitting <br /> <br />The Pine River Bayfield Ditch Company is currently working with the CORP of Engineers office in / <br />Durango, Colorado to complete the 404 (b)(1) permitting process. No delays are anticipated in <br />the replacement schedule that would be attributed to the permitting process. <br /> <br />The rights-of-way associated with each alternative have been discussed with the three property <br />owners that would be impacted by the siphon replacement. All landowners are in agreement and / <br />have committed to cooperating with the Pine River Bayfield Ditch Company in the replacement ../. <br />effort. <br /> <br />Institutional Considerations <br /> <br />Entities that are, or may be, involved in the design, construction, and financing of the project <br />include: <br /> <br />PRB Ditch Company: financing and project management. <br />Natural Resources Conservation Service (NRCS): surveying, design and construction. <br />Colorado Water Conservation Board (CWCB): financing and construction, <br /> <br />The PRBDC will be the lead for the financing, design, and construction of the project and will be <br />the entity entering into contracts and agreements with the various entities for the services <br />provided by each. <br /> <br />Financial Analysis <br /> <br />Three entities will be involved in financing the estimated total project cost of $267,000. The <br />PRBDC is applying for a loan from the CWCB in maximum amount of $200,000. The actual or <br />estimated amounts by entity are given in Table 2. <br /> <br />Table 2. Sources of Funding <br /> <br />Entity Grant Loan Percent <br /> Participation <br />CWCB $0 $200,000 76% <br />PRBDC $0 $0 0% <br />NRCS $50,000 $0 18% <br />Totals $50,000 $200,000 <br /> <br />~P <br />t ('7, oOU <br /> <br />The PRBDC will cover any costs that exceed the estimated project cost. <br /> <br />PRB Ditch Company <br />Siphon Replacement Feasibility Study <br />May 2003 <br /> <br />Page 13 of 15 <br />