C150242 Feasibility Study

• Contract/PO #: C150242
• Contractor Name: Seven Lakes Reservoir Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• County: Weld
• Loan Projects - Doc Type: Feasibility Study

I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I

ummary 0 are 0 er are wners ID se
i %
Shares Owned of Shares in Shares in
Owned Total Muni. Use Aarico Use
Agriculture 148.34 37.09 0.00 148.34
Greeley 210.83 52.70 95.08 115.75
Evans 40.83 I 10.21 40.83 0.00
Total 400 I 100 135.91 264.09
% of Total 1 33.98% 66.02%

S

Table VI-4
f Sh h Id Sh 0

hO & U

While the ownership of shares is 62.91% municipal and 37.09% agricultural, the
actual use and assessment cost allocation is 33.98% municipal and 66.02%
agricultural. Therefore the CWCB agricultural loan rate should apply to those
shares in agricultural use. The remaining 33.98% of the shares are owned by the
City of Greeley and the City of Evans, which have a median household Incomes
well below the statewide average (Greeley MHI $36,414 and Evans MHI 537,158
compared to State average of $47,203). The CWCB Municipal Low Income loan
rate should apply to these shares. The blended rate for a loan to the SLRC is
calculated as follows:

Table VI-5
SSRC Share Ownership and Blended Interest Rate

Shareholder ! Rate Cate 0
Farmers/Ranchers ! A ricultural
City of Greeley Municipal Low
Cit of Evans . Income
Totals

, Year 2007 Rate : % Shares
i 2.5% -6f'r. 1, i
3.25% i"* jp1. ,q

100

! Rate x %Shares
1.650 o. C\ 1.1S
4:4e& 'Z.. DL\y. V5

2.755 2.'\11-

~ 2.;l\5ol/~
(Rounded down to
nearest 4%T-OJOSj ~

Blended rate for SSDC

Table VI-5 is a summary of the financial aspects of the project with a $772,840
~'-tz.) (g1l<.D
CWCB Loan. The annual payment would be $42,268 (including the 10% reserve
2.qs"/~ 11':8
requirement) at the loan terms of ~% for 30 years. This represents . per
acre-foot, based on total annual storage (fill and refill) of 8,796 acre-feet.

~.~'

32