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Town of Dillon <br />May 12, 2009 (UPDATED May 22, 2009) <br />Page 5 of 6 <br />Agenda Item 17b <br />The Town's cost per Acre-Foot for its 109AF is $15,290/AF. Project Engineering Construction <br />Plans (90%) prepared by Tetra Tech have been submitted to USFS for Permitting and SEO Dam <br />Safety. Permitting and SEO review is expected to be complete by the end of 2009. The Town <br />expects to start construction in the spring of 2010 and complete construction by the spring of 2011. <br />Financial Analysis <br />Table 1 shows a summary of the financial aspects of the loan request. The interest rate for the <br />Town is based on a middle income municipal rate of 4.0% for 30 years. (Financial Policy #7). <br />Table 1. Financial Summary <br />PROJECT/LOAN <br />Old Dillon Reservoir Enlargement Total Project Cost $6,315,000 <br />Summit County & Silverthorne Project Cost Partici ation $4,663,000 <br />Town of Dillon Project Cost Partici ation $1,652,000 <br />Town of Dillon Total Project Costs (including non-Participant Costs) $1,667,000 <br />Town ofDillon Loan (90%) $1,500,000 <br />CWCB Loan (Includin 1% Service Fee) $1,515,000 <br />CWCB Annual Loan Payment $87,600/yr <br />CWCB Loan Obli ation (including 10% debt reserve funding) $96,360/yr <br />Current Taps or EQRs 1,695 EQR's <br />New Annual Debt Service per Tap or EQR $57/EQR <br />Credihvorthiness: The Town's Water Enterprise currently has two outstanding loans with a total <br />balance of $555,000. The Colorado Water & Power Development Authority loan will be retired <br />prior to the first P&I payment to CWCB. <br />Balance <br />Colorado Water & Power Development Authority $464,028 <br />Wells Fargo Brokerage Service (land for new well) $90,887 <br />Annual Pmt Maturity Date <br />$126,689 11 /2012 <br />$18,547 3/2014 <br />