Laserfiche WebLink
<br />. <br /> <br />Silver Springs Trout Farm I Sherwood Trust Agenda Item 22a. <br />November 19-20, 2001 (Updated November 26, 2001) <br /> <br />Water Project Construction Loan Program-Project Data <br /> <br />Borrower: Silver Springs Trout Farm Inc./ Sherwood Trust County: Montrose <br /> <br />Project Name: Silver Springs Trout Farm Project Type: Rehabilitation <br /> <br />Drainage Basin: <br /> <br />Gunnison <br /> <br />Water Source: Springs on Mexican Gulch <br /> <br />Total Project Cost: $408,000 <br /> <br />Funding Sources: CWCS and Company <br /> <br />Type of Borrower: Agricultural <br /> <br />Median Household Income: N/A <br /> <br />CWCB Loan: $365,000 <br /> <br />Interest Rate: 3% <br /> <br />Term: 15 years <br /> <br />CWCB Grant: none <br /> <br />Water right: 15.85 c.f.s <br /> <br />The Silver Springs Trout Farm inc./ Sherwood Trust operates the Silver Springs Trout Farm Fish <br />Hatchery, a commercial fish operation. The hatchery is located about 3 miles west of Montrose <br />and obtains its water from springs on Mexican gulch, a tributary to the Uncompahgre River. The <br />hatchery tested positive for whirling disease in 1997, and the owners constructed new raceways at <br />a cost of $350,000. The hatchery has since operated free of whirling disease. The owners need to <br />rehabilitate the source water collection system and construct a predator control structure over the <br />raceways at an added cost of $58,000. The CWCS loan will be used to fund the new construction <br />and to refinance debt associated with rehabilitation work already completed. The Silver Springs <br />Trout Farm Inc. / Sherwood Trust is a commercial fish hatchery owned and operated by the <br />Sherwood family trust, Daniel and Jacqueline Sherwood Trustees, and registered with the <br />Colorado Secretary of State. Chimney Rock Consultants completed plans and specifications for <br />the project and the CWCS Staff completed the feasibility study. Proposed funding for the <br />project consists of a CWCS loan for $365,000 and lil!III!I from the Company. <br /> <br /> <br />5 <br />