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' Town of Bennett <br />Feasibility Study <br />1 the well could not produce water in sufficient quantity or quality, which was a result of well <br />deterioration. With Well 5 inoperable, Bennett is struggling to provide an adequate supply of <br />' water to its residents. Bennett also does not have the necessary funds to replace the well at <br />this time. <br />' PROJECT SPONSOR <br />' The project sponsor for the re- drilling of the water supply Well 5 is Bennett. The Town of <br />Bennett was incorporated in 1929 (the Articles of Incorporation are included as Appendix A), <br />and currently has a population of approximately 2,500 people. Bennett relies on user fees and <br />' property taxes to maintain the water supply and wastewater systems. The two most recent <br />financial statements are included in Appendix B. Bennett has retained consulting services to <br />evaluate the dependability of the water supply system and plan for future developments. These <br />consulting services have been summarized in the water supply plan report (JWC, 2006) and the <br />' W/WMUP report (RTW, 2007). <br />' Bennett currently serves approximately 1,100 taps, which equates to approximately 1,300 single <br />family equivalent (SFE) units. As with many communities in Colorado, Bennett has recently <br />' experienced increased population growth. The growth rate from 1990 to 2000 was <br />approximately 1.5 %, while the growth rate from 2000 to 2005 was approximately 5 %. The <br />' increased growth rate was caused by the addition of the Antelope Hills subdivision. The future <br />rate of growth will depend on the progress of planned developments, but it is expected to range <br />from 2% to 8 %. Bennett manages, operates, and maintains the water supply system that is <br />' made up of wells, pumps, distribution pipelines, treatment facilities, and storage facilities. <br />LOAN REQUEST <br />' The Town is requesting a 20 -year loan for $180,000, which represents 90% of the estimated <br />' costs of re- drilling /completing a new Well 5 and connecting it to the Town's treatment/storage <br />facility located adjacent to the new well site. The Loan Application Request is included as <br />Appendix C. It is our understanding that CWCB Policies permit loans for the <br />Jehn Water Consultants, Inc. <br />