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<br />Dolores Water Conservancy District - WETPACK II
<br />January 25-26, 2004
<br />
<br />Agenda Item 20a
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<br />crops to be raised are alfalfa, beans and small grains. The Selected Plan consists of construction
<br />for the Yellow Jacket East area to irrigate 1,011 acres and for the Pleasant View East area to
<br />irrigate 1,189 acres. The new land will be served in the same manner as existing Project irrigated
<br />land, with delivery boxes for each 160 acres (or Iless) providing at least 45 psi of pressure and 5.6
<br />gpm per acre at the high point of the field to operate sprinkler systems. Major facilities will include:
<br />· Yellow Jacket East - A new pump station along the Dove Creek Canal, approximately
<br />10,560 feet of pipe ranging in size from 10 inches to 16 inches, and 9 delivery boxes.
<br />· Pleasant View East - A new pump station along the Dove Creek Canal, approximately
<br />15,840 feet of pipe ranging in size from 10 inches to 24 inches, and 12 delivery boxes.
<br />
<br />Revised cost estimates have been prepared, and the total project cost is estimated to be:
<br />1. Engineering Costs (non-DWCD) $ 107,535
<br />2. Construction -Yellow Jacket East $1,336,890
<br />3. Construction - Pleasant View East $2,247 ,575
<br />TOTAL $3,692,000
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<br />The construction designs will be prepared by DWCD engineering staff, and DWCD will either utilize
<br />in-house construction crews or bid the work, depending on cost and availability of in-house
<br />personnel. An Environmental Assessment has been prepared by the USBR for the carriage of non-
<br />Project water through the Dove Creek Canal, and Army Corps of Engineers 404 permits will be
<br />obtained as necessary. The proposed schedule is as follows:
<br />
<br />· Complete 440-acre Sandstone WE~St project
<br />Close existing CWCB Loan
<br />· Yellow Jacket East - Begin Construction
<br />- Complete Construction
<br />Pleasant View East - Begin Construction
<br />- Complete Construction
<br />Close new CWCB Loan Loan
<br />
<br />July 2005
<br />December 1, 2005
<br />Spring, 2006
<br />Summer, 2007
<br />Spring, 2007
<br />Summer, 2008
<br />December 1, 2008
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<br />Financial Analysis
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<br />The total estimated cost of the project is $3,692,000. For this project the DWCD would qualify for
<br />the agricultural interest rate. Staff is recommending a loan for a maximum amount of $3,323,180
<br />(90% of estimated project cost) for 30 years at an interest rate of 2.5 % per annum. DWCD will
<br />provide $368,820, the local match needed for their portion of the project, through WETPACK
<br />participation fees of $250 per acres collected from landowners.
<br />
<br />Table 2 is a summary of the financial aspects of the project. A CWCB loan of $3,323,180 would
<br />have an annual payment of $158,774 at the loan terms of 2.50% for 30 years.
<br />
<br />
<br />Table 2. Financial Summary
<br />
<br />- At Close Out
<br />
<br />$2,881,000
<br />$2,530,000
<br />$137,559
<br />$3,692,000
<br />$3,323,180
<br />$158,774
<br />13
<br />2892
<br />$49.39
<br />
<br />aver. annual delive : 6000 ac-ft.)
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<br />Page 5 of 7
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