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<br />The selected alternative encompasses construction of the toe drain system to coUect <br />and mter seepage flowing beneath the embankment through the foundation and a <br />buttress to increase stability of the existing embankment slope. <br /> <br />Table #1 <br /> <br />The estimated cost of the completed project is summarized in Appendix C. <br /> <br />Implementation Schedule <br /> <br />The final design is expected to be completed by August 2008. Construction will <br />begin in June 2009 and be completed by October 2009. <br /> <br />Permitting <br /> <br />GDRC own an 1891 easement for Granby #12 reservoir and we are in discussions <br />with the U.S. Forest Service regarding access and borrow source permits. <br /> <br />Institutional Considerations <br /> <br />Entities that is, or maybe, involved in the design, construction and financing of the <br />project include: <br /> <br />Granby Ditch & Reservoir Company <br />Buckhorn Geotech <br />Colorado Water Conservation Board <br />Colorado River Water Conservation Board <br /> <br />Financial Analysis <br /> <br />GDRC is applying for a loan in a maximum amount of $209,715.00 to accommodate <br />75% of the estimated cost of $279,620.00 total cost of the project. GDRC has applied <br />for a grant of up to $15,000.00 from the Colorado River Water Conservation <br />District small grant program. We will know on April 16, 2008 if this is granted. <br />GDRC plans to make application to the CRWCD large grant program in November <br />2008, under there guidelines a grant of around $80,000.00 is possible. GDRC <br />realizes that this grant may not materialize; therefore it will not be used in our <br />financial analysis. We will meet the project cost through fees assessed to the <br />stockholders. <br /> <br />GDRC is requesting a 30 year loan from the CWCB. The current ownership of <br />GDRC stock is 82.3% agricultural and 17.7% municipal resulting in a blended <br />