Laserfiche WebLink
<br />The Headgate 135 Lateral, Inc. is requesting a 30-year loan from the CWCB <br />for $ 134,000.00 at the standard lending rate which would be 3.5 %, <br />resulting in annual payments of $ 7430.00. The Headgate 135 Lateral, Inc. <br />will fund a payment reserve account at the outset of the Project in the amount <br />of$7430.00. Headgate 135 Lateral, Inc. would request following receipt of <br />participating payments that the loan be recalculated and assessed over the <br />remaining potion of the 30 year payoff. <br /> <br />Financial Information <br /> <br />Headgate 135 Lateral, Inc. has no existing debt. Headgate 135 Lateral, Inc. <br />has a checking account with Wells Fargo Banking of Grand Junction and <br />presently has a balance of approximately $ 5,135.00. The Financial statement <br />is included in Appendix C. <br /> <br />Loan Application <br /> <br />The loan application to CWCB for the Project financing is contained in <br />Appendix E. <br /> <br />Financial Assistance <br /> <br />The Headgate 135 Lateral, Inc. has obtained a Cost Share Assistance <br />Application Agreement and Payment Claim for $ 70,663.75 in cost share from <br />the Mesa C. D. to cover construction cost plus an in-kind grant from the <br />NRCS for engineering design and construction inspection. Headgate 135 <br />Lateral, Inc. has also received a commitment from the Grand Valley Drainage <br />District to provide in kind contributions as outlined in their letter of March <br />24, 2008. The Bishop of Pueblo and 3P Development, LLC have committed <br />to provide in kind contributions. <br /> <br />9 <br />