C150087 Approval Letter - Laserfiche WebLink

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� �� Cedar Mesa Ditch and Reservoir Company Agenda Item 9b. July 23-24, 2001 (Updated July 26, 2001) Water Riqhts The source of water for the CMDRC is two storage rights as listed in Table 1: The reservoir usually fills every year, according to State Engineer Records. Proiect Descriqtion Three alternatives were analyzed in the feasibility study: 1. The no-action alternative. 2. Construct a support berm along the toe of the main dam, incorporating a chimney drain constructed with geosynthetic. ($ 95,309) 3. Construct a support berm along the toe of the main dam, incorporating a chimney drain constructed with C-33 concrete sand.($131,667) Alternative 2, Construct a support berm incorporating geosynthefic ($95K), was ruled out because the State Engineer's Office disapproved the design. Alternative 3, Construct a support berm incorporating C-33 concrete sand ($132K), was the preferred alternative, since it was the least cost design acceptable to the State Engineer. The no-action alternative was considered unacceptable since ihe reservoir wouid remain restricted and the CMDRC could not store water for delivery to its shareholders. Selected Alternative 3 involves construction of a support berm of compacted soil along the lower portion of the main embankment. A chimney drain and toe drain will be incorporated in the berm to control seepage and allow it to exit and be monitored. The implementation schedule calls for completion of financing arrangements and final engineering design in summer 2001. Construction will be completed in fall 2001. Financial Analvsis The total estimated cost of the project is $131,667, and the water is used by the shareholders for agricultural purposes. Staff is recommending a loan from the Smali Project Account in maximum amount of $100,000 (about 76% of estimated project cost.) The loan terms would be the standard CWCB agriculturai rates (30 years at 3.5%, 20 years at 3.25%, or 10 years at 3%) at the borrower's option. Alternative financing sources: The Company actively sought alternative financing. They were able to obtain a$6,000 grant from the Colorado River Water Conservation District, and two additional loans totaling $16,500 to help cover engineering, piezometer installation, and soils analysis for the project. The CWCB will provide a grant to pay'/� the cost of the Feasibility Study and initial planning, up to a maximum of $5,000. The Company also requested a loan from their local bank (The Surface Creek Bank.) The terms offered were 8.35% with a 5-year Table 1: Water Rights for the Cedar Mesa Reservoir