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Another contributing factor to the cost overrun to the project was the construction of the pump house. The original estimate of $185,000 to construct the pump house was based on a design pumping rate of 50 gallon per minute (gpm). During final design a 20-day fill rate was determined to be necessary to give the District the ability to work with the up and down cycles of the river. This resulted in significantly increasing the pump rate from 50 to 450 gpm. The increased pump rate changed the pump requirement from 1 - 15 horsepower pump to 2 - 20 horsepower pumps, but on the plus side created a beneficial backup system not originally accounted for. Additionally, the electrical configuration changed dramatically to accommodate the additional pump and increased horsepower. Finally, the originally planned pump house was upgraded to a concrete/wood framed structure to properly house the pump facility components. These changes resulted in an increase of approximately $200,000 to the project. Other miscellaneous items contributed to the overall increase to the project as well, such as: rock excavation, materials, seepage control, engineering, testing, legal fees, etc. However, the reservoir construction and pump house as described above, were the two main contributing factors to the overall cost increase to the project. Water Rights The increased cost of approximately $1,347,700 to complete the construction elements of the project has greatly reduced the District's ability to purchase CBT water shares. The District is in the process of joining the Norther~r Colorado Water Conservancy District (NCWCD), so they may purchase available CBT units for downstream exchange. Assuming the District obtains a minimum of $400,000 in grant and land sales, they would have $251,000 in available funds to purchase water. NCWCD shares ar-e currently selling for $9,000 per share, which would allow the District to purchase approximately 28 shares. Assuming an average allocation of 0.7 acre-feet per share, the 28 shares could yield approximately 20 acre-feet. This amount, combined with the District's Culver Irrigation Stock that provides an average of 6.3 acre-feet annually, could provide for a total potential water availability of 26 acre-feet. In wet years the District would be able to pull more water from the Little Thompson River when downstream senior calls have been met, which would allow the District to operate without interruption. In dry years the District will have to lease additional water in addition to the CBT shares and Culver Stock to efficiently operate their system. The District has investigated a number of different lease options for 2008. Financial Analysis Project funding sources for the system rehabilitation project are shown in Table 2. Table 2. Project Funding Sources Funding Source Amount Partici anon CWCB Loan (Raw Water) $2,783,875 69% DWRF Loan $ 875,625 22% PSWD Funding (Grant/Land) $ 400,000 9% Total $4,059,500 100% 4 Flood Protection • Water Project Planning and Financing • Stream and Lake Protection Water Supply Protection • Conservation Plaxu~ing