PROJ02105

• Contract/PO #: FS0065FX
• Contractor Name: Greeley and Loveland Irrigation Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• Loan Projects - Doc Type: Feasibility Study

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Chapter VI - Selection of Alternative and Financial Plan

the assessment would have increased by approximately $39 per share from the current level of $172"
. ~
per share (weighted price). The $39 per share increase is based on a debt service coverage ratio of
1.10. The annual revenue and expenditures for the project are shown in Table VI-7.

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G. Institutional Considerations

Table VI-8 shows the required permits, which may be required for the construction of this
project. These are standard for this type of construction and little difficulty is foreseen in obtaining
all required permits.

Table VI-8
Required Project Permits and Agreements

Agency
U.S. Army Corps of Engineers
Division of Water Resources
Water Quality Control Division

Requirements
Nationwide and/or Individual 404 Permit
Design Approval
Construction Dewatering Permit

H. Benefits

Boyd Lake Dam is the largest of several reservoirs in an extensive irrigation system owned
and operated by the Greeley and Loveland Irrigation Company and Seven Lakes Reservoir Company.
In addition to providing storage for irrigation water critical to users in Greeley, it also provides
recreation to the surrounding area. If this project is not constructed, the SEO could potentially
restrict the storage within the reservoir or even require that the dam be breached.
Either of these options would result in loss, which would be borne by the Greeley and
Loveland Irrigation Company and the State of Colorado (surface water rights are owned by the
State). In addition, the surrounding area generates income based on the lakes present in the
community with Boyd Lake being the largest. The cost to construct the work is approximately $31
per acre-foot of storage.

Boyd Lake Dam Outlet System Feasibility Study

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