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<br />.' <br /> <br />Shultz Farm, Inc <br />November 25-26, 2002 <br /> <br />Agenda Item 20j, <br />(Updated December 4, 2002) <br /> <br />Water Project Construction Loan Program-Project Data <br /> <br />Borrower: <br /> <br />Shultz Farm, Inc, <br /> <br />County: Weld <br /> <br />Project Name: <br /> <br />Hill Lake <br /> <br />Project Type: Rehabilitation and Enlargement <br /> <br />Drainage Basin: <br /> <br />South Platte <br /> <br />Water Source: SI. Vrain River <br /> <br />Total Project Cost: $445,000 <br /> <br />Funding Sources: Borrower and CWCB <br /> <br />Type of Borrower: Agricultural <br /> <br />Median Household Income: N/A <br /> <br />CWCB Small Project Loan: $400,000 <br /> <br />Interest Rate: 2.75% <br /> <br />Term: 30 years <br /> <br />Completed Reservoir Volume: 250 acre-feet <br /> <br />Shultz Farm, Inc. owns the Hill Lake, which is used for storage of irrigation water. The Lake is <br />located in Weld County, 8 miles northeast of Longmont and is filled through a ditch off the St. <br />Vrain River, The Lake, which is natural, has a storage decree for 134 acre-feet, but has become <br />silted in so that the existing capacity is about 65 acre-feet. Shultz Farm, Inc. wants to excavate the <br />Lake to a final capacity of 250 acre-feet to provide water for its farming/ranching operation during <br />drought periods, The project will be completed in winter 2002/2003, Steve Shultz, President. has <br />completed the feasibility study. Proposed funding for the project consists of a $400,000 Small <br />Project Loan from the CWCB, and the remainder from the Borrower. <br /> <br /> <br />Location Map <br />4 <br />