C150255 Feasibility Study - Laserfiche WebLink

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Social, Economic, and Physical Impacts The project will have no significant social impacts. Although shareholders in Bijou will be impacted with increased assessments for construction and loan repayment, the project will have a long term positive economic impact by assuring continued diversions into the Bijou canal and as indicated before, the reverse of this situation is not acceptable. The project will have no significant physical impacts once construction is complete. The new diversion structure will occupy the same area as what exists now and will be about the same size and shape. Permitting All easements and rights of way have been arranged for. The Company expects to be exempt from 404 permitting by Statutory exemption, 33 CFR Section 323.4(a)3. Financial Plan The total cost of the project is $a40,000. The most convenient source of funding for this project could come from a loan with the Colorado Water Conservation Board (CWCB). The following financial analysis assumes that Bijou would pursue a CWCB loan. The total cost of the project is $a40,000. $756,000 or 90% may come from the CWCB, and the remainder from the project sponsor, Bijou. A $756,000 CWCB loan at 2.25% interest over a 30-year repayment period would calculate to an annual payment of approximately $35,000. The loan payment of $35,000 amounts to an additional assessment of $8.75 per share or approximately $0.74 per acre feet diverted annually. The $8.75 will be added to the existing share assessment of $30.00 bring the Bijou yearly assessment to $3a.75 per share. The increased assessment will bring in the extra revenue needed to cover the CWCB payment. This financial analysis should stay consistent over the period of the CWCB debt retirement. Feasibility Study Bijou Irrigation Company Diversion Structure June 2007 6