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<br />Feasibility Study <br />Lower Sacramento Creek Reservoir Company <br />Enlarging and Lining of Reservoir <br /> <br />Introduction <br /> <br />The Lower Sacramento Creek Reservoir Company (LSCRC) with an office in Lakewood, <br />Colorado, operates the Lower Sacramento Creek Reservoir (LSCR) in Park County, Colorado for <br />the benefit of the shareholders by providing augmentation storage space to comply with their <br />various decreed Plans For Augmentation. The company exchanges consumptive use water from <br />the historic headgate location ofthe Guiraud 3T Ditch on the Middle Fork ofthe South Platte <br />River up the Middle Fork and Sacramento Creek to the diversion point of LSCR west of <br />Fairplay, Colorado. This water is stored during the historic irrigation season from May through <br />September and then released the balance of the year as required by the various decrees. The <br />reservoir was constructed in alluvial aggregates and sealed with a clay liner in 1980. In the <br />subsequent years the liner has migrated into the soil so that we are unable to fill the reservoir <br />without the water immediately leaving the reservoir. LSCRC wants to line the reservoir with a <br />30 mil plastic liner during the summer of2005. <br /> <br />Project Sponsor <br /> <br />The LSCRC is a mutual reservoir company and a non-profit corporation registered in the State of <br />Colorado. There are seven shareholders and 3700 shares of stock, distributed as shown in Table <br />1. LSCRC has the power to set annual assessments to be paid by the shareholders, the power to <br />forgo storing or releasing augmentation water to shareholders that fail to pay their assessments, <br />and the power to offer delinquent stock for sale to pay back assessments. The LSCRC articles of <br />incorporation and by-laws are included in Appendix A. <br /> <br />Table 1. Share Distribution <br /> <br />Shareholder Shares <br />Valley Of The Sun Property Owners Association (396 Lots) 1311 <br />Sun Mountain Property Owners Association (80 Lots) 175 <br />Foxtail Pines Property Owners Association (401) Lots) 873 <br />FC Spruce Hill, LLC (8 Lots) 166 <br />Venture 73 Owners Association (47 Lots) 127 <br />Widdowfield Property Owners Association (31 Lots) 116 <br />Mountain Mutual Reservoir CO./North Fork Associates (MMRC) 932* <br />Total 3700 <br /> <br />* If the construction results in a volume less than 37 acre-feet, MMRCINFA will relinquish the <br />shares equal to that reduction and will pay their share of the cost based on the new number of <br />shares. <br /> <br />1 <br />