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IMPLEMENTATION SCHEDULE <br />The following schedule is proposed for implementation of the project: <br />Task <br />1. <br />Feasibility Study <br />2. <br />Design <br />3. <br />SEO Design Review <br />4. <br />Bid <br />5. <br />Award Bid <br />6. <br />Start Construction <br />7. <br />Project Complete <br />SOCIAL, ECONOMIC, AND PHYSICAL IMPACTS <br />Target Completion Date <br />10/1/2005 <br />Completed 2004 <br />Approved 8/9/2005 <br />7/2005 <br />9/l/2005 <br />9/13/2005 <br />5/1/2006 <br />The project will have no significant social impacts. The Company does lease the reservoir during the <br />summer months to a fishing club but they will not be adversely impacted by the construction. There <br />may be some need to capture the fish in the reservoir for later restocking but this will have to be <br />worked out with the club. The ditch company retains the right in their lease with the club to take <br />whatever measures are necessary to maintain and operate their reservoir without interference by the <br />fishing club. <br />The project will have a positive economic impact to the ditch company by maintaining their ability for <br />full storage which will help supply more water during a dry year, and reducing their potential liability <br />for a possible failure of the dam. <br />The project will have no significant physical impacts to any property or property owners around the <br />reservoir as the Company owns the land required for all the wok proposed. <br />PERMITTING <br />All required land ownership, easements, or right -of -way are now held by the company. The company <br />and the Engineer believe no Environmental Assessment (EA) or Environmental Impact Statement (EIS) <br />will be required. The Corps of Engineers will be contacted concerning 404 permitting but anticipate <br />the work falling under the Nation Wide Permits which will not require formal permitting. <br />FINANCIAL PLAN <br />The Highland Ditch Company is requesting a loan from the Colorado Water Conservation Board <br />(CWCB) construction fund to provide 90% of the project funding. The terms of the loan will be <br />approximately 2.25% interest with a twenty (20) year repayment period and a 1% loan origination fee. <br />The remaining 10% of the project will be funded by the The Highland Ditch Company, Inc. from their <br />Foothills Dam- 03.076 Page 6 <br />