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Collateral <br />As security for the CWCB loan, WRCC, Inc. can pledge revenues from assessments, income from <br />recreational leases, its water rights and real property owned which includes all the reservoirs and <br />surrounding grounds. <br />8.0 ECONOMIC ANALYSIS <br />The economic analysis ofthis project is as follows: <br />Cobb Lake is a major storage and operational facility. Its 22,000 acre feet of irrigation water <br />supports approximately 8,800 acres of crop ground. Cobb Lake is also a space available storage <br />facility for Water Supply and Storage and North Poudre Irrigation. Its economic importance to <br />agriculture goes without saying. <br />9.0 SOCIAL AND PHYSICAL IMPACTS <br />Cobb Lake provides non-motorized recreational uses to the Cobb Lake Preservation Association, <br />which is basically a homeowner organization. <br />10.0 CONCLUSIONS <br />1. WRCC, Inc. is a reservoir company organized under the laws of the State of Colorado <br />with the ability to enter into a contract with the CWCB for the purpose of obtaining a <br />Construction Fund loan. <br />2. The project would provide for the continued delivery of irrigation water to the <br />landowners under the WRCC system. <br />3. Based on the evaluations undertaken, it is recommended to proceed with Alternative 2 far <br />preliminary design. This alternative is approximately 25-percent more in capital costs <br />than Alternative 1, however, this alternative will provide a more stable configuration <br />within the inlet channel and require less long term maintenance. <br />4. The total estimated cost ofthe project is $1,450,000. <br />5. The project is technically and fmancially feasible. <br />7 <br />