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A $135,000 CWCB loan at 2.SOo interest over a 30-year repayment <br />period would calculate to an annual payment of approximately <br />$6,500. The loan payment of $6,500 amounts to an additional <br />assessment of $10.15 per share or approximately $0.18 per acre <br />feet diverted. The $10.15 will be added to the existing share <br />assessment of $125.00 bring the WVDC yearly assessment to $135.15 <br />per share. This increase will stay in effect throughout the <br />duration of the loan. The increased assessment will bring in the <br />extra revenue needed to cover the CWCB payment. This financial <br />analysis should stay consistent over the period of the CWCB debt <br />retirement. <br />Collateral <br />1. The WVDC can offer as collateral the project itself, if <br />approved by a vote of the shareholders. <br />2. The WVDC can offer as collateral, one payment in a <br />certificate of deposit account, to be held by the State <br />Treasurer, if approved by vote of the shareholders. <br />Institutional Considerations <br />The WVDC needs authorization to borrow $135,000 from the CWCB <br />Construction Fund. The loan, if approved, from the CWCB will be <br />contingent upon the successful negotiation of a contract between <br />the CWCB and the WVDC. Agreements with contractors will be <br />finalized upon authorization of the CWCB loan. <br />Opinion of Feasibility <br />The selected alternative is technically and financially feasible. <br />There are no known roadblocks which would keep the WVDC from <br />successfully completing this project. <br />Feasibility Study <br />We-ldon valley Ditch Company <br />Co~~onwood Draw Flume <br />September 2009 <br />6 <br />