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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Economic Analysis <br /> <br />The economic benefit of the project is considerable. The NRCS estimates the value of property <br />affected to be $5.5 million, within the 2000-acre servic43 area. (See Damage Survey Report in <br />Appendix 8.) The short-term value of potential damagE~ to this property in the event the Chilcott <br />Diversion is not repaired is estimated as $2.9 million. Using an estimated total project cost of <br />$1.1 million (to cover design, construction of the diversion and all appurtenancE~s, construction <br />supervision, and up to $100,000 in cost overrun), the project cost/benefit ratio is $2.9/ $1.1 or <br />2.64. <br /> <br />Social and Physical Impacts <br /> <br />The project will have no significant social impacts, since it will assure the continued operation of <br />a currently existing irrigation system. The project will have minor physical impacts, once <br />construction is complete. The new diversion structure will be in the same location and <br />somewhat larger than the diversion destroyed during the 1999 flooding. <br /> <br />Conclusions <br /> <br />1. The Chilcott Ditch Company is an incorporated entity in the State of Colorado with the ability <br />to enter into a contract with the CWCB for the purpose of obtaining a Construction Fund <br />loan. <br /> <br />2. Rights-of Way easements are adequate for the construction of this project. <br /> <br />3. The project would provide for the continued delivery of irrigation water to share holders. <br /> <br />4. The total estimated cost of the project is $1 million and this will be financed, in part, by in- <br />house financing, in-kind services, and a grant from the Federal Emergency Watershed <br />Program. The CDC is applying for a $250,000 Emergency loan from the CWCB <br />Construction Fund for the amount not covered by the federal grant. <br /> <br />5. Chilcott Ditch Company is eligible for a loan from the CWCB Emergency Infrastructure <br />Repair Account because the project is necessary to avoid unreasonable risk of injury or <br />damage to human health or well-being or to property or crops, and becausH the emergency <br />condition is not the result of negligence in the operation or maintenance of the infrastructure. <br /> <br />6. The project is technically and financially feasible. <br /> <br />Chilcott Ditch Company <br />Diversion Structure Feasibility Study <br />November 1999 <br /> <br />Page 12 of 12 <br />