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Last modified
8/16/2009 2:35:57 PM
Creation date
10/16/2008 8:55:20 AM
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Board Meetings
Board Meeting Date
7/22/2008
Description
CF Section - New Project Loans - Headgate 135 Lateral, Inc. - Headgate 135 Pipeline Project
Board Meetings - Doc Type
Memo
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Headgate 135 Lateral, Inc. Agenda Item 16b <br />July 15, 2008 <br />Page 3 of 5 <br /> <br />Water Rights <br /> <br />The members of the Corporation own shares in the G VIC . The water shares are conveyed through <br />Headgate 135 and to the member s land via the Lateral. The source of the irrigation water is the <br />Colorado River. GVIC has a diversion structure on the north bank of the river near Highway 6 in <br />Palisade. T he Lateral is currently an open ditch and carries 3.0 cfs and is used to irrigate residential <br />lawns and gardens . <br />Project Description <br /> <br />Three alternatives were analyzed in the feasibility study: <br /> <br />1) No action alternative <br />2) Individual members construct pipeline to meet their own needs <br />3) Participate in the NRCS Colorado River Basin Salinity Control Program <br /> <br />The Corporation chose to participate in the Salinity Control Program primarily due to the available <br />NRCS funding assistance. The selected alternative includes 4 , 8 00 feet of new 15 inch PVC pipe to <br />replace open ditch, flow measurement devi c es, metered delivery points to each member, valves, <br />drains and vents to improve delivery of the water to the diversion structure. Design will begin this <br />summer and construction i s expected to begin in the f all of 200 8 . <br />Financial Analysis <br /> <br />Table 1 shows a summary of the funding sources for the project. The total estimated cost of the <br />project is $2 6 0,000. An initial loan phase (during construction) amount is based on 100% of the <br />es timated total Project cost ( allowed p er Policy #11). The loan will be reduced to $1 3 4,000 after the <br />Project is complete and the Corporation receives funds from NRCS and others assisting in the <br />Project funding . <br />Table 1. Project Funding Sources <br />Funding Sour ce Grant /Other Loan <br />Initial Loan Phase <br />CWCB Loan $ 260 ,000 <br />Total ($2 6 0,000) $ 0 $26 0,000 <br />Post Construction Phase <br />Lateral 135 Inc. $0 <br />Mesa Conservation District (NRCS - Cost Share)* $71,000 <br />Grand Valley Drainage District** $ 13,000 <br />Bishop of Pueblo $ 34,000 <br />3P Development, LLC $ 8,000 <br />CWCB Loan $1 3 4,000 <br />Total ($2 6 0,000) $ 126 ,000 $1 3 4,000 <br /> <br />* Received after construction is complete from NRCS <br />** To be in - kind services <br /> <br />
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