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<br />Economic Analysis <br /> <br />The economic benefit of the project is considerable. The NRCS estimates the value of property <br />affected to be $5.5 million, within the 2596-acre service area. The short-term value of potential <br />damage to this property in the event the PRB Siphon is not repaired is estimated as $2.9 million. <br />Using an estimated total project cost of $267,000 (to cover design, construction of the siphon <br />and all appurtenances, construction supervision, and up to $44,096 in cost overrun), the project <br />cost/benefit ratio is $2.9/ $1.1 or 2.64. <br /> <br />Social and Physical Impacts <br /> <br />The project will have no significant social impacts, since it will assure the continued operation of <br />a currently existing irrigation system. The project will have minor physical impacts, once <br />construction is complete, and in fact, will likely improve the existing physical surroundings by re- <br />shaping ground disturbed in the previous siphon construction. The new siphon structure will be <br />in the same location. <br /> <br />Conclusions <br /> <br />1. The PRB Ditch Company is an incorporated entity in the State of Colorado with the ability to <br />enter into a contract with the CWCB for the purpose of obtaining a Construction Fund loan. <br /> <br />2. Rights-of Way easements are adequate for the construction of this project. <br /> <br />3. The project would provide for the continued delivery of irrigation water to share holders. <br /> <br />4. The total estimated cost of the project is $267,000 and this will be financed, in part, by in- <br />house financing, in-kind services, and an in-kind grant from the NRCS. The PRBDC is <br />applying for a $200,000 loan from the CWCB Construction Fund. <br /> <br />5. PRB Ditch Company is eligible for a loan from the CWCB Emergency Infrastructure Repair <br />Account because the project is necessary to avoid unreasonable risk of injury or damage to <br />human health or well-being or to property or crops, and because the deteriorated condition <br />of the siphon is not the result of negligence in the operation or maintenance of the <br />infrastructure. <br /> <br />6. The project is technically and financially feasible. <br /> <br />PRB Ditch Company <br />Siphon Replacement Feasibility Study <br />May 2003 <br /> <br />Page 15 of 15 <br />