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I I I I I I I I I I I I I I I I I I I SEITII.SEVEN Ahernadle and Financial PlanT 7 .1 NARRATIVE DESCRIPTION Based on the financial aspects the replacement of the dam in-kind is selected and the preferred alternative. 7.2 HYDRAULIC AND STRUCTURAL DESIGN CRITERIA Hydraulic design criteria are primarily limited to the sizing ofthe outlet pipe. The outlet pipe will be sized based on the SEO criteria presented in their Dam Safety Project Review Guide. Structural design will follow the present version of the ACI code. 7.3 LAND AND RIGHT-Of-WAY REQUIREMENTS McElroy Reservoir located on land owned by the State Land Board. The Hill's operate and maintain the reservoir on a long-term lease (2016). A copy ofthe lease is shown in Appendix D. 7.4 PROJECT IMPLEMENTATION SCHEDULE Table 7.1 is a potential schedule for implementing this project. 7.5 COST ESTIMATES Table 7.2 presents an estimate of the construction and construction engineering costs for the rehabilitation project. The total estimated cost of the project is $700,000. 7.6 fiNANCIAL PROGRAM The Hills have expended $154,000 in engineering and construction for the breaching of the reservoir. Total capital expenses for the in-kind reconstruction, including construction and construction engineering with 10 percent contingency is $700,000. The estimated total for breaching and reconstruction is $854,000. The Hills are applying for 90 percent of the construction cost through the CWCB Small Project Loan Program and will finance the remaining 10 percent. The Hills loan request is for the amount of $768,600. The Hills are requesting a 30- year loan at 2.5 percent interest (agriculture). The 1 percent loan origination fee is $7,690 will be paid for by the Hills. The annual payment will be $36,722, assuming a 3D-year loan at a rate of 2.5% 'URS T:\PROJECTS\22238900_MCELROY _DAMlCWCB LOAN FEASIBILITY REPORT DRAFT.DCCI 11-OCT -06\22238900IDEN 7-1