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Implementation Schedule <br />Implementation of the conduit is contingent upon federal legislation. Once legislation is passed, <br />appropriation of the money is required. The District expects federal funds to be available at the <br />beginning of the 2008 Federal Fiscal Year. Based on current understanding of the political <br />landscape, the District is planning to begin the design phase of the conduit in late 2007. Once <br />the preliminary design is completed, the NEPA process will begin. This is expected to take <br />about two years to complete. All of these costs will be included in the legislation and the <br />requested loan package from the Colorado Water Conservation Board (CWCB). It is anticipated <br />that actual construction will begin following the NEPA process at which point it should take <br />about two years to complete the conduit. <br />It is expected that funding for the Conduit will come in phases. The WRDA bill that is expected <br />to pass this year, should have appropriations of $69 million for the Federal Fiscal year beginning <br />October 2007. It is expected that subsequent funding will be appropriated each year at various <br />amounts as our delegation is able to secure them. If $69 million is appropriated each year it <br />should take 6 years to receive the complete funding necessary for the completion of the conduit. <br />This time frame ties in with the preliminary engineering, NEPA and construction process. <br />Permitting <br />No easements or rights of way have been obtained at this point. These will be obtained during <br />the preliminary design phase. Permitting will be obtained after the NEPA process is completed. <br />Institutional Considerations <br />The Southeastern Colorado Water Activity Enterprise will be the lead agency on this project ' <br />through the completion of the construction of the conduit. It will be the contracting agency for <br />all financing, design, NEPA compliance and construction. Please see Table 1-1 on Page 8 for <br />the participating entities that will be responsible for actual payment of the loan. The operating <br />structure of the conduit has not been settled, but there are three possible scenarios for operation. <br />The first is for the Enterprise to retain ownership of the conduit and operate it. The second p 4„~ ~ <br />scenario is for an Independent Authority to operate the conduit as a subcontract from the District ~ ~ ~ Y .~ <br />A third scenario is for the conduit to be operated like a mutual ditch. ~ <br />Financial Analysis <br /> <br />The cost of the project as currently anticipated is about $300,000,000. Of this cost, it is hoped u ~ ,~ <br />that 80% or $240,000,000 will be funded by the federal government, leaving $60,000,000 to be ~ ~~,,,~~~ <br />paid for by the local entities. <br />Appendix A is the cost breakdown for the construction of the conduit as determined by Black & <br />Veatch in the Investigation Study dated June 2006. <br />Potential funding sources are listed in Appendix B. Of these sources, it is expected that the <br />majority of the local funding will be provided by the CWCB loan. <br />9 <br />