C150150 Market Report

• Contract/PO #: C150150
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Bent
• Loan Projects - Doc Type: Feasibility Study

.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.

FB-l, Page 3

Irrigated Farm Sale:
1,335.00 acres irrigated
500.00 acres river bottom
Improvement Value:
Total Purchase Price:

OTHER:

Lamar

@ $944 =
@ $200 =

$1,260,300
$ 100,000
$ 139.700
$1,500,000

Capitalization Rate Calculation:

Gross Income:

Landlord Expenses
Real Estate Taxes
Water Assessments
Pumping Costs
Augmentation Costs
Insurance
Maintenance
Management Fee

Total Expenses:

Net Income:

$. 70,000

$ 4,337
$ 7,562
$ 9,664
$ 5,677
$ 3,000
$ 4,000
$ 7.000

$ 41.240

$ 28,760

Cap Rate: $28,760/$1,500,000 = 1.92%

CONSUMPTIVE USE
ANALYSIS:

At $500.00 per share, the total cost of the Fort Bent Ditch shares
is $1,260,300. One share yields, on average, 0.73 acre-foot of
consumptive use. Thus, 2,520.60 shares yield 1,840 acre-feet of
consumptive use at an average cost of$685.00 per acre.

Page 41 of 66