C150156 FS

• Contract/PO #: C150156
• Contractor Name: Arkansas Groundwater Users Association
• Contract Type: Loan
• Water District: 14
• County: Pueblo
• Loan Projects - Doc Type: Feasibility Study

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9.0 FUNDING ANALYSIS
The cost to purchase 785 shares of the Excelsior Ditch Company at $1,100 per share is $863,500. The
engineering costs for the water rights appraisal and feasibility are estimated to be $20,000. An additional
$189,000 is estimated to be required for enlargement of the Excelsior Ditch and construction of a 15-acre
recharge pond including a 30 percent contingency and 15 percent design cost. AGUA is seeking a loan
from the CWCB Arkansas River augmentation loan account , ., fl� purchase 785 shares of the
Excelsior Ditch Company stock and complete the Excelsior Ditch construction projects as outlined
below.
TABLE 8
Estimated Total Project Costs
Estimated Engineering Costs:
Feasibility Study — Tetra Tech RMC $15,000
Appraisal — Blatchley Associates $5,000
Estimated Total Engineering Costs $20,000
Estimated Construction Costs:
Excelsior Ditch Enlargement $25,000
Recharge Pond $81,000
Structures $20,000
30% Contingency $38,000
15% Design Cost $25,000
Estimated Total Construction Costs $189,000
Estimated Ditch Share Purchase
Excelsior Ditch Shares $863,500
Estimated Total Costs $1,072,500
The estimated total project costs of $1,072,500 plus a one percent loan origination fee minus $5,000
, from a CWCB Feasibility Study Grant results in total costs of $1,078,275. We understand that the
CWCB would offer AGUA a loan at 90 percent, resulting in a total loan amount of $970,448. The term
' and rate for the CWCB loan is requested to be 30 years at two and one-half percent. At this rate, annual
payments for the $970,448 loan would be $46,366. This amount does not include the 10 percent reserve
' required by the CWCB to be set aside for the first ten years of loan repayment.
' AGUA — 2003 Feasibility Study - 20 - August 15, 2003