PROJC01798 ‎(2)‎

• Contract/PO #: C150265
• Contractor Name: Supply Irrigating Ditch Company
• Contract Type: Loan
• Water District: 0
• County: Boulder
• Loan Projects - Doc Type: Feasibility Study

~ SECTIONFIVE . setection of Atternative and Financial Ptan
5.4 COST ESTIMATE
Appendix G presents an estimate of the construction and construction engineering costs
associated with the selected alternative. Table 5-2 summarizes the costs estimated for this
~ pro~ect.
Table 5-2
Summary of Project Costs
Description Estimated Cost
Construction (rounded) $865,547
(including 30% contingency)
Constzuction Engineering $65,000
Total Construction Costs (Rounded) $931,000
Design Engineering and Feasibility Report $64,000
Total Capital Expenses $995,000
5.5 FINANCIAL PROGRAM
SIDC does not have any outstanding loans (long-term debt) with the CWCB. Using estimated
total project costs of $995,000 {rounded), the total amount eligibie for CWCB fnancing at 90%
will be $896,000 (rounded). Including a 1% CWCB loan service fee, SIDC is applying for a
$904, 960 loan from the CWCB Smail Projects Fund. The remainder of the project will be paid
through SIDC stock assessments. During the annual stockholders meeting held on January 11,
2008 the stoclcholders adopted a resolution for the repayment of the loan and also committing to
increased assessments to pay for the 10% project balance. The resolution is presented in
Appendix A.
SDIC is applying for a 30-year loan. CWCB 30-year ioan interest rates are 2.25% for
agricultural, 3.50% foz low income municipal, and 5.50% commercial. As previous stated SDIC
has 400 shares which are presently owned by 164 stockholders. Of the 400 shares, 323.5 shares
are used for agricultural purposes, 60 shares are used for municipal purposes, and 16.5 shares are
used for commercial purposes. The CWCB computed blended 3Q-year interest rate is 2.60%.
~~ 5-2