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C150279 Feasibility Study
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C150279 Feasibility Study
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Last modified
5/9/2011 1:44:50 PM
Creation date
12/2/2008 10:07:11 AM
Metadata
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Template:
Loan Projects
Contract/PO #
C150279
Contractor Name
Boulder White Rock Ditch and Reservoir Company
Contract Type
Loan
Water District
0
County
Boulder
Weld
Loan Projects - Doc Type
Feasibility Study
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SECTIONFIVE Selection of Alteirnatiue and Financial Plan <br />Table 5-2 <br />Summary of Project Costs <br />Description Estimated Cost <br />Construction $2,500,000 <br />(including 30% contingency) <br />Construction Engineering $78,000 <br />Total Construction Costs (Rounded) $2,578,000 <br />Feasibility Report, Peer Review, and <br />Revised Design Engineering $95,000 <br />Total Capital Expenses $2,673,000 <br />5.5 FINANCIAL PROGRAM <br />The Company does not have any outstanding loans (long-term debt) with the CWCB. Using <br />estimated total project costs of $2,673,000, the total amount eligible for CWCB financing at 90% <br />will be $2,405,700. Including a 1 %CWCB loan service fee of $24,057, the Company is <br />applying fora $2,429,800 (rounded) loan from the CWCB Small Projects Fund. The remainder <br />of the project will be paid through stock assessments. <br />The Company is applying fora 30 year loan. CWCB 30 year loan interest rates are 2.50% for <br />agricultural, 4.50% for high income municipal, and 5.50% commercial. As previous stated the <br />Company has 5,500 shares which are presently owned by 160 stockholders. Of the 5500 shares, <br />2830.50 shares are used for agricultural purposes, 2642.50 shares are used for municipal <br />purposes, and 27 shares are used for commercial purposes. The CWCB computed blended 30- <br />year interest rate is 3.48%. The spreadsheet used to compute the blended rate is presented in <br />Appendix D. <br />Revenue for operations and payment of loans was derived from assessments on 5500 shares of <br />outstanding stock. The assessments for 2007 were $15 per share. The assessment per share, for <br />the new loan is approximately $30 per share. The new assessment includes the cost for the loan <br />including a CWCB 1% loan service fee. The assessment also includes an estimated annual <br />operating expense for the reservoir facility. The assessment includes the estimated power to <br />operate the pumps. The power requirement is estimated at $7,500 for the first year. An <br />additional $2,500 is estimated for other annual expenses for the first year. The total annual <br />~S 5-2 <br />
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