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C150299 Fesability Study
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C150299 Fesability Study
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Last modified
8/12/2011 3:14:22 PM
Creation date
10/14/2009 1:17:52 PM
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Loan Projects
Contract/PO #
C150299
Contractor Name
Lake Canal Reservoir Company
Contract Type
Loan
Water District
0
County
Larimer
Weld
Loan Projects - Doc Type
Feasibility Study
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As indicated in Table 8, the assessments will have to be increased significantly over the current $150 <br />per share and will remain at a relatively high level throughout the loan period. An assessment level <br />ranging from $260 to as high as $335 per share is projected based on our analysis. <br />CREDIT WORTHINESS <br />The Company currently has only one outstanding loan which is to the Colorado Water Conservation <br />Board for the repayment of a loan to rehabilitate North and South Gray Reservoirs. This loan has <br />a balance of approximately $53,884 with a maturity date of July 2018 and a yearly payment of <br />$6,920. A summary of this loan is included with the financial information in Appendix A. <br />The Company does have a relationship with and has conducted business with New West Bank of <br />Eaton, Colorado. <br />ALTERNATIVE FINANCING <br />The Company has not investigated alternative financing at this time. <br />OPINION OF FEASIBILITY <br />There do not appear to be significant roadblocks, other than cost, which would keep the Lake Canal <br />Reservoir Company from successfully completing this project. The project does significantly raise <br />the assessment level from the current $150 per share to a high of $335 per share of stock. However, <br />the rehabilitation cost is much lower than the cost to replace the water even at current values. With <br />the expected future increase in the value of the water, this project would be expected to be a good <br />investment. <br />Following is a cost to benefit analysis of the project. <br />Total Pro~ect Cost including interest <br />$19,245 x 30 years + $43,365+ $3,897 = $ 624,612 <br />Total Cost per Share of Stock <br />$624,612 = 160 = $3,904 <br />Cost Per Share of Stock Per Year <br />$3,904 = 30 years = $130 <br />Gray Reservoirs-Feasibility Study Page 11 <br />
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