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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 />The current net revenue from all crops produced in the service area is <br />approximately $20,000,000 each year and the ditch delivers approximately <br />37,500 ac-ft of water to users in its service area. Therefore, the value of the <br />water based on the value of crops produced is approximately $533 per ac-ft per <br />year. <br /> <br />For the 2500 ac-ft of new storage and the 2000 ac-ft of efficiency improvements, <br />the cost for the project is approximately $99 per ac-ft per year giving a benefit- <br />cost ratio of $533/$99 = 5.3. <br /> <br />Based on engineering and financial analysis, the project is deemed feasible. <br /> <br />COLLA TERAL <br /> <br />The NCLPIC can offer the following collateral for the CWCB loan. <br /> <br />1. A pledge of assessment revenues. <br />2. The physical assets of the project itself including the <br />means to operate and deliver water to the project. <br /> <br />SOCIAL AND PHYSICAL IMPACTS <br /> <br />Reservoirs provide desirable land for development and could potentially provide <br />recreational areas for use by adjacent property owners or for public use. <br />Currently, no plan for development around the reservoirs is in place. However, <br />the NCLPIC is currently involved in Colorado State University's dual use study <br />that considers using water from the ditch system for residential or industrial <br />developments. Such use could provide additional income for the NCLPIC and <br />would be beneficial for developers. <br /> <br />The primary physical impact would be the inundation of approximately 800 acres <br />of land. Currently, most of the affected land is used for irrigated crops and <br />pasture. Seepage through the dam would be expected to have physical impact <br />to the flow in Crow Creek and to raise the local groundwater level. This would be <br />a benefit to groundwater conditions and will be addressed fully in the HRS Water <br />Consultants, Inc. augmentation plan. There are no existing structures <br />immediately downstream of the dam that would be expected to be affected by <br />these physical impacts. <br /> <br />CONCLUSIONS <br /> <br />1. The project is feasible from both engineering and financial perspectives. <br />2. The NCLPIC will have to increase assessments to approximately $257 per <br />share per year by 2008 in order to fund the project. <br />3. Based on the net revenues from irrigated crops in the service area, the <br />benefit to cost ratio for the project is approximately 5.3. <br /> <br />New Cache Feasibility Study <br /> <br />40 <br />