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<br />
<br />FUND REQUIREMENT SCHEDULE
<br />
<br />The New Cache La Poudre Irrigating Company is seeking funding through the
<br />Colorado Water Conservation Board "Construction Fund' to finance $7.2 million
<br />of the project. The NCLPIC will fund the remaining amount with a private loan,
<br />their cash reserves, and through an increase in their assessments.
<br />
<br />The expected fund requirement schedule for the project, with an estimated
<br />project total cost of $9,542,000 is as shown below. The loan amount from the
<br />CWCB will be $7.2 million and the portion from the NCLPIC will be $932,351.
<br />The schedule of when the funds will be needed is based on design starting in
<br />2004, construction starting in 2004 and being completed in 2008 in accordance
<br />with the implementation schedule outlined above in Table 10.
<br />
<br />The Fund Requirement Schedule shows the funds required by the NCLPIC and
<br />the CWCB to complete the project. In 2004, funds will be required for
<br />engineering, surveying, subsurface investigations, environmental assessment,
<br />and land acquisition. In 2004 through 2006, funds will be required for
<br />engineering, construction, and inspection. In 2007, funds will be required for
<br />construction and inspection. From 2008 through 2012, the payment required
<br />from the NCLPIC is the sum of the annual payments for the CWCB loan and the
<br />Cornish Plains Loan. In 2013, the amount includes the CWCB annual payment
<br />and the payoff amount for the Cornish Plains Loan. From 2013 through 2037,
<br />the payment required from the CWCB is the annual payment for the CWCB
<br />Loan.
<br />
<br /> Total Funds Cornish Plains
<br />Year Required CWCB Loan Livestock Loan NCLPIC Share
<br />2003 $1,468,000 $0 $1,409,000 $59,000
<br />2004 $1,000,000 $850,000 $0 $150,000
<br />2005 $2,330,000 $1,990,000 $0 $340,000
<br />2006 $2,450,000 $2,100,000 $0 $350,000
<br />2007 $2,640,000 $2,260,000 $0 $380,000
<br />2008-2012 $467,000 $0 $0 $467,000
<br />2013 $1,310,000 $0 $0 $1,310,000
<br />2013-2037 $344,000 $0 $0 $344,000
<br />Totals $7,200,000 $13,400,000
<br />
<br />Table 16 - Fund Requirement Schedule
<br />
<br />FINANCIAL ANALYSIS
<br />
<br />The NCLPIC proposes to apply for a loan amount of $7.2 million from the
<br />Colorado Water Conservation Board (CWCB) with a 30 year repayment period
<br />
<br />New Cache Feasibility Study
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