C150271 Feasibility Study - Laserfiche WebLink

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1 B. Spillway Channel Three alternatives were considered in addressing the spillway channel issue. The first alternative was to purchase the entire property from the adjacent landowners, the second was to route the channel directly through the center of his property, requiring an easement over thirty acres rather than five and the third was to construct a channel close to the toe of the dam to minimize the land disturbance and keep the maximum portion of the project on real property already owned by WRCC. The third alternative was at least one-third of the cost of the first two and provided the smallest amount of disturbance to land area. This alternative also provides the shortest flow path back to the natural water course and was the selected alternative. Permitting The spillway channel is located entirely on private property and permanent easements are in place for the portion of the project not located on ground owned by WRCC. All appropriate construction permits have been obtained and are in place. Institutional Considerations Entities that are, or may be, involved in the design, construction and / or financing of the project include: WRCC, Inc. Water Management Consultants John Andrew P.E., individually Colorado Water Conservancy Board Farmers Bank ARC, Inc. ' WRCC, Inc. will be the lead for the financing, design and construction for the project and will be the entity entering into contracts and agreements with the various entities for the services provided by each. Financial Analysis The entire project has a cost of $1,413,600. These were itemized in a previous submission and are incorporated herein by reference. a) Loan amount requested is $1,272,240 (90%). b) Interim funding for the project will be provided: 1. Approximately $200,000 cash now available. 2. Loan from Farmers Bank, Ault, Colorado, in the initial amount of $500,000. This loan can be increased to cover the whole project if necessary. We Page 3