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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Executive Summary <br /> <br />The New Cache La Poudre Irrigating Company (NCLPIC) manages water in the <br />Greeley Number 2 Ditch to provide for its shareholders. The NCLPIC <br />experiences operational inefficiencies throughout the system that amount to <br />approximately 2000 ac-ft per year. The NCLPIC plans to construct a 300 ac-ft <br />equalizer reservoir near Barnesville, Colorado to minimize the operational <br />inefficiencies and to better serve the shareholders near the end of the system. In <br />addition, the NCLPIC has filed an application with the Water Court for rights to <br />draw and store 2200 ac-ft of water in two additional reservoirs near Barnesville. <br />The overall project will require the construction of three reservoirs, a pumping <br />station, and a pipeline. The construction is feasible at the proposed site based <br />on the engineering issues analyzed. The estimated total project cost including <br />interest is $13.4 million which translates to $179 per share per year. -Based on a <br />project delivery of 4500 ac-ft per year (2500 ac-ft from new storage and 2000 ac- <br />ft from efficiency improvements), the total cost per ac-ft is approximately $2,978. <br />The average annual cost per ac-ft is approximately $99. Based on the net <br />revenues from irrigated crops in the service area, the benefit to cost ratio for the <br />project is approximately 5.3. <br />