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I I I I I I I I I I I I I I I I I I I be 50% greater than with the open Ditch. Regulation and measurement of water deliveries will be significantly improved. The Members will be in a better position to make improvements to on-farm water systems that can result in improved efficiencies and farm yields. The NRCS Plan identifies other environmental, social and economic benefits that will result from the Project. Physical Impacts The Project will assure improved operation of a currently existing irrigation system. The Project will change the appearance of the irrigation delivery system as portions of the Ditch will be buried and the surface will return to natural grasses and other native species. Some sections of the Ditch will be left intact to carry livestock water and manage runoffs from irrigated pastures and rain/snow. The new diversion structure will be in the same location and somewhat larger than the previous structure. Conclusions The Company is an incorporated entity in the State of Colorado with the ability to enter into a contract with the CWCS for the purpose of obtaining a Construction Fund loan. Rights-of Way easements are adequate for the construction of this project. The project would provide improved delivery of irrigation water to share holders. The total estimated cost of the project is $506,000 and this will be financed, in part, by a grant from the NRCS of 75% of the project cost. The Company is applying for a bridge loan for the full cost of the project and a $126,000 long-term loan from the CWCS Construction Fund for the amount not covered by the federal grant. Company is eligible for a loan from the CWCS. The project is technically and financially feasible. Appendix A Articles of Incorporation, By-Laws and Funding Agreement