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, <br />Table 1 <br />Summary of Reservoir Capacity <br />and Existing Water Rights <br />Bult Creek Reservoir No. 4 <br />' Existing Proposed Proposed 5 Proposed Existing <br />Restricted Rehabilitation, Enlargement, Water Ri hts, <br />Reservoir C�pacity, AF AF Capacity, g <br />AF AF AF <br />' Bull Creek No. 4 128.9 183.79 105.31 418.00 312.69 <br />' <br />, <br />� <br />' <br />PROJECT DESCRIPTION AND ALTERNATIVES <br />The purpose of this praject is to provide a means for the Bull Creek Reservoir, Canal and Power <br />Company to continue �roviding irrigation water to shareholders while maximizing existing senior <br />water rights and available opportunities for storage. In a May 2004 Feasibility Study submitted . <br />to CWCB for financing, three alternatives were consider�ed: <br />1.) No-action. <br />' 2.) Rehabilitate only Bull Creek Reservoir No. 4 <br />3.) Enlarge Bull Creek Reservoirs Nos. 1 and 2 and rehabilitate Bull Creek Reservoir No. 4 <br />' <br />' <br />' <br />Subsequently, an updated Feasibility Study in May 2006 identified Reservoir No. 4 as the most <br />environmentally judiciaus and most financially prudent option to pursue. <br />SELECTED ALTERN,ATIVE — REHABILITATION AND ENLARGEMENT OF BULL CREEK <br />RESERVOIR NO. 4 <br />' The May 2006 Feasibility Study identified enlarging Reservoir No. 4 as the Selected Alternative. <br />Subsequent to the May submittal to CWCB, the analysis has gone through a third party peer <br />, review for purposes of value engineering, schedule assessment, and verification of cost <br />estimates. This was aerformed by E&C Services, LLC of Buena Vista, Colorado. The scope of <br />' <br />' <br />, <br />Bull Creek Reservoir, Can�l and Power Company <br />Bull Creek Reservoir No. 4, Feasibility Study <br />Nov. 30, 2006 Page 5 of 13 <br /> �J <br />