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PROJ01922 (2)
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PROJ01922 (2)
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Last modified
11/19/2009 11:25:16 AM
Creation date
2/21/2008 4:16:45 PM
Metadata
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Template:
Loan Projects
Contract/PO #
C150126
Contractor Name
Kremmling, Town of
Contract Type
Loan
Water District
50
County
Grand
Loan Projects - Doc Type
Approval Letter
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<br /> <br />j FINANCIAL ANALYSIS <br /> <br />The total estimated cost of the project is $2,447,750, of which the Town is requesting a <br />Construction Fund loan of $1,689,750, which is approximately 69% of the total project cost. The Town is <br />requesting an amendment to their existing $1,000,000 loan with CWCB in the amount of $689,750 for a <br />new loan amount of $1,689,750. Funding includes participation from a number of other agencies as <br />summarized in Table 3 below: <br /> <br />Table 3 - Sources of Funding <br /> <br />Entity Grant Loan Contribution Participation <br />CWCB $1,689,750 69.0% <br />DOLA . $603,000 24.5% <br /> . <br />River District $15,000 0.60% <br />Kremmling $140,000 5.70% <br />Totals: $618,000 $1,689,750 $140,000 100.0% <br /> <br />The cost of the permitting, attorney fees, water rights purchase, and water court will be paid for <br />separately by the Town through their in-kind contribution and by the use of their DOLA grant. The <br />estimated cost of these services is$488,000. <br /> <br />Table 4 is a summary of the financial aspects of the project. - The average monthly water bill will <br />need to be increased approximately $15.00 per tap in 2004 and an additional $7.00 per tap in2005, to cover <br />the cost of the requested $1,689,750 CWCB loan and other outstanding debt. <br /> <br />Table 4 - Financial Summary <br /> <br />Project Cost $2,447,750 <br />CWCB Loan Amount $1,689,750 <br />CWCB Loan Payment (Includes 10% Reserve) $110,777 <br />Current Monthly Water Bill (Residential) $23.20 <br />Proposed Monthly Water Bill with Project 2004 $38.20 <br />Proposed Monthly Water Bill with Project 2005 $45.20 <br />Annual Loan Cost per acre-foot (400 AF) $277 <br /> <br />The Town has an existing $500,000 outstanding debt with General Motors Acceptance Corporation <br />for their water treatment facility, with an annual payment $45,000, and a $21,474 outstarlding debt with <br />DOLA with an annual payment of $11,549. The DOLA debt will be paid in full in 2005 and the General <br />Motors debt will be paid in full in 2019. All payments on these debts are current. <br /> <br />Table 5 shows the Financial Ratios and indicates, with the exception of cash reserve:. all ratios in the <br />average and strong categories with the CWCB loan in place. <br /> <br />5 <br />Flood Protection. Water Project Planning and Financing · Stream and Lake Protection <br />Water Supply Protection. Conservation Planning <br /> <br />
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