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WRCC, Inc. <br />November 1Q 2009 (UPDATED November 19, 2009) <br />Page 4 oF 5 <br />Financial Analysis <br />TABLE 2 <br />TOTAL PROJECT COST SUMMARY <br />Task ' Cost <br />Engineering 590,000 <br />Construction $ 1,131,000 <br />Land Acquisition $17,000 <br />Construction Administration $25,000 <br />Contingency (12%) $170,000 <br />Total Estimated Costs $1,433,000 <br />Agenda Item 26a <br />Table 3 shows a summary of the financial aspects of the loan request. The Company has 938.5 <br />agricultural shareholders and 61.5 non-agricultural/middle income municipal shareholders; <br />therefore, a blended interest rate of 2.85% for a 30-year loan applies. <br />TABLE 3 <br />FiNANCiAi, SITMMARY <br />The original Windsor Reservoir and Canal Company did have four CWCB loans between 1992 and <br />2006 for rehabilitation of several structures along the Poudre Valley Canal. These loans, totaling <br />$2,557,000, were paid in full in 2006 with the proceeds from the Tunnel Water Company stock <br />sale. <br />Creditworthiness: The Company has a$1,285,7301oan ($61,839 due annually) with the CWCB <br />for the Windsor Dam and Spillway Maintenance Project. The loan was approved in September <br />2008 and construction of the project was completed in November 2008. Repayment of the loan will <br />begin December 1, 2010. The loan was secured by a pledge of assessment revenues. <br />