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<br />Using the value of the water at $4,500 per A-Ft <br /> <br />Benefit/Cost = $4,500/A-Ft x 491.4 A-Ft + $454,346 = 4.9 <br /> <br />Using a rental rate of water at $40 per A-Ft <br /> <br />Benefit/Cost = $40/A-Ft/year x 491.4 A-Ft x 30 years + $454,346 = 1.3 <br /> <br />COLLATERAL <br /> <br />The Louden Irrigation Canal and Reservoir Company can offer the following collateral for the <br />CWCB loan. <br /> <br />1. The revenue from assessments as allowed by the Company By-Laws <br />and Articles of Ineorporation. <br />2. A certificate of deposit account in the amount of one annual payment <br />to be held by the State Treasurer. <br />3. The physical assets of the project. <br /> <br />IMPLEMENTATION SCHEDULE <br /> <br />The following schedule is proposed for implementation of the project: <br /> <br />Task <br /> <br />Target Completion Date <br /> <br />1. <br />2. <br />3. <br />4. <br />5. <br />6. <br />7. <br /> <br />Feasibility Study <br />Design <br />SEO Design Review <br />Bid <br />Award Bid <br />Start Construction <br />Project Complete <br /> <br />6/1/08 <br />9/1/08 <br />1/1/09 <br />7/1/09 <br />8/15/09 <br />9/15/09 <br />12/31/09 <br /> <br />SOCIAL, ECONOMIC, AND PHYSICAL IMPACTS <br /> <br />The project will have no significant social impacts. <br /> <br />The project will have a positive economic impact by assisting the LICRC providing irrigation water <br />for approximately 2500 acres of shareholders' crops. <br /> <br />Rist-Benson Feasibility Study <br /> <br />Page 17 <br />