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SOCIAL, ECONOMIC, AND PHYSICAL IMPACTS <br />The project will have no significant negative social impacts. However, there will be positive <br />social and economic impacts described belo~v. None of the facilities will be utilized for active <br />recreation, but the project will provide wildlife habitat benefits through water access at the <br />recharge ponds while they have water in them. The ponds are located in the "golden triangle" <br />between Riverside Reservoir, Empire Reservoir, and Jackson Lake, which is a well-known area of <br />importance for waterfowl and related wildlife. In this way, the project will help to meet the non- <br />consumptive water needs of the South Platte Basin. <br />The project will have a positive economic impact for the FMRICo by assisting the Company <br />(which includes as shareholders many farmers, the City of Fort Morgan, City of Brush and <br />Xcel Energy) with a way to continue to provide replacement water for member wells, and to <br />enhance the reliability of such replacement supplies. The project will also allow development <br />of an augmentation plan for Groves Farms so that they can continue to use their 9 wells to <br />irrigate approximately 1,000 acres of land in Morgan County. <br />The project will have few significant physical impacts as it will be a buried pipeline, with some <br />related infrastructure. Most of these impacts will be minor in nature, will be on lands owed by <br />the FMRICo and Groves Fartns, and will only affect a small area of land. There will be some <br />minor impacts on neighboring lands during construction of the pipeline, but they will be <br />temporary. Easements for the pipeline route have been obtained from the surrounding <br />landowners. <br />PERMITTING <br />The Company and Engineer believe no Environmental Assessment (EA) or Environmental <br />Impact Statement (EIS) will be required. All work is associated with agriculture. The Corps of <br />Engineers will be contacted concerning 404 permitting but FMRICo anticipates that the work <br />will either not require formal permits, or will fall within the nationwide exemptions. <br />INSTITUTIONAL CONSIDERATION5 <br />No institutional considerations exist other than the proposed loan from the CWCB. <br />FINANCIAL PLAN <br />In November 2008, FMRICo received approval from the South Platte Basin Roundtable for a <br />$250,004 grant from the Basin Account of the Water Supply Reserve Account. FMRICo is in <br />the process of pursuing CWCB approval of that grant, and a grant from the Statewide Account <br />as well. The goal has been to try to get up to half of the project costs through grants. In <br />addition to any grants received, the Fort Morgan Reservoir & Irrigation Company proposes to <br />apply for a$1,900,000 loan from the Colorado Water Conservation Soard (CWCB) for 30 <br />years at 2.90°/a interest. (For purposes of this Feasibility Report, FMRICo based its Financial <br />Plan on a$1,940,0001oan for 30 years at 2.90% interest.) If additional grant requests are <br />approved, the loan amount would be reduced. FMRICo believes that using the higher loan <br />