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SECTION VI <br />FINANCIAL PROGRAM <br />Amount of Requested Loan <br />The total construction budget estimated for this project is $2,149,000. The Snowmass <br />Water and Sanitation District is seeking funding from the CWCB for 90% of this total or <br />$1,934,000 paid back over a 20-year term. The standard municipal rate for high income <br />communities is 4.5% with rates reduced by 0.25% for 20-year loans, resulting in annual <br />payments of $145,475.16. An additional $17,935.77 per year would be added for the first <br />10 years to fund the emergency reserve account, for a total annual cost of $163,~410.93. <br />Since 90% of the funding for this project is from the CWCB, with the 10% balance and <br />any costs that exceed the estimated project cost paid directly by Snowmass Water and <br />Sanitation District, the District would have no other debt senrice for this project. <br />Operation and maintenance costs are minimal, involving electrical, pump and grounds <br />maintenance costs. <br />Summary of Sources <br />The project budget is $2,149,000 with 90% being funded through the CWCB Loan <br />Program and 10% funded by the Snowmass Water and Sanitation District. Any <br />unforeseen project overages will be directly paid for by the Snowmass Water and <br />Sanitation District. <br />Projection of Revenues and Expenditures <br />The projected annual operating revenues and operating expenses for this project are <br />shown below. Money from the annual net operating gain would be avai(able to fund the <br />replacement of infrastructure and the repayment of the CWCB loan. The projected <br />annual revenues and expenses are shown in Table 2. <br />9 <br />