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� SOCIAL AND ENVIRONMENTAL IMPACTS <br />There will be no significant social impacts as a result of the complete irrigation project. <br />The members of the Association will continue to receive an adequate supply of water for <br />landscaping irrigation. There will be minor environmental impact as all of the piping will <br />be underground and revegetation will be completed at the end of the project to the <br />disturbed areas. The water will be diverted into an existing and maintained ditch; <br />residing in an existing pond. <br />CONCLUSION <br />1. The Lazy O Ranch Homeowners' Association is an incorporated entity in the <br />State of Colorado with the ability to enter into a contract with the CWCB for the <br />purpose of obtaining a Construction Fund loan. <br />2. All necessary permits and water rights legislation have been obtained for the <br />completion of this project. <br />3. The project would provide an irrigation watering system utilizing non-potable for <br />the members of the Association. By implementing this system, the current <br />central water system would only supply domestic water enabling the Association <br />� to utilize an alternative water source for irrigation. <br />4. The total cost of the project is $167,500 and will be financed in part by a line of <br />credit loan frorn Community Banks of Colorado. The Lazy O Ranch <br />Homeowners' Association is applying for a$150,750 loan from the CWCB <br />Construction Fund loan. The assignment of the member assessments of the <br />Association will be used as collateral for the loan. <br />5. The project is technically and financially feasible. <br />. <br />Lazy O Ranch Homeowners' Association, Inc. Page 10 of 10 <br />September 2006 <br />