18 ‎(3)‎

• Board Meeting Date: 5/21/2008
• Description: CF Section - New Project Loans - Granby Ditch and Reservoir Company - Granby #12 Dam Rehabilitation Project
• Board Meetings - Doc Type: Memo

Granby Ditch & Reservoir Company Agenda Item 18
May 13, 2008
Page 3 of 5
Appropriation Adjudication Amount
Water Right Date Date (AF) Use
Irrigation
Reservoir Storage 8/6/1910 5/28/1937 814
Domestic,
Reservoir Storage 12/10/1993 12/31/1993 24 Augmentation
Project Description
The purpose of this project is to rehabilitate the Reservoir to its full storage capacity. Two
alternatives were considered:
1. The no-action alternative
2. Rehabilitate the dam
Alternative No. 1 – No action alternative was considered unacceptable because without repairing
the dam the Company could eventually be required to relinquish the storage rights. The Reservoir
has been restricted since 1976. While the Reserv oir is not currently on an abandonment list; the
Company is concerned that withou t action on the repairs it risks losi ng the additional storage right.
Alternative No. 2 - Rehabilitating the dam was the selected alternative because it will enable the
Company to retain its storage rights and will help it better meet the shareholder’s needs. The
current Directors understand the impo rtance of these storage rights a nd feel that these rights could
be jeopardized if action is not taken soon.
Buckhorn Geotech has prepared preliminary engineeri ng designs and cost estimates for the project.
The dam rehabilitation involves ad ding a toe drain collection system to help with seepage and
buttress construction to improve stability.
Final design is expected to be complete by Augus t 2008. Construction is expected to begin in June
2009 with the hope of completing th e project in October 2009.
Project Cost Estimate
Engineering $64,000
Construction $216,000
Total $280,000
Financial Analysis
Table 1 shows a summary of the financial aspects of the loan request. The Company has a mix of
municipal shareholders and agriculture sharehol ders. Blending the interest rate based on share
ownership, the rate becomes 2.35% for a 30-year term. Of the remaining 10% portion of the
Project, $13,000 will be funded through sharehol der assessments and $15,000 will come from a
grant from the Colorado River District’s 2008 Small Grant Program.