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i� <br /> I' <br /> I' <br /> I' <br /> �r <br /> I, <br /> I' <br />' <br />�J <br />' <br />�� <br />Annual income at $150 per share plus $100 per account is $55,300. Expenses run an average <br />of $40,000 per year. <br />Alternative �nancing considerations: The Grand River Ditch Company has investigated <br />alternative financing sources. They have obtained an in-kind grant from the NRCS for <br />engineering design and construction inspection. The Grand River Ditch Company has also <br />obtained approximately $135,000 in cost share (grant) from the Federal Emergency <br />Conservation Program to cover a portion of the construction costs, if work can be completed by <br />FSA deadlines. <br />The Ditch Company has requested Grants from : <br />Colorado River Roundtable group requested $200,000.00 <br />Colorado River Water Conservation Board will request $50,000.00 <br />Collateral: As security for the CWCB loan the Grand River Ditch Company can pledge <br />assessment income, and the project itself. <br />Economic Analysis <br />The economic benefit of the project is considerable. The Bookcliff Conservation District <br />estimates the value of property affected to be $22 million (2,200 ac.X $10,000.00), within the <br />2,200-acre service area. The short-term value of potential damage to this property in the event <br />the Grand River pipeline is not installed is estimated as $1.1 million in annual crop loss. The <br />loss in land value is incalculable. <br />Social and Physical Impacts <br />This project lies within the I-70 and Colorado River corridor in central Garfield County, Colorado. The <br />area is greatly influenced by Oil and Gas development and related infrastructure, recreation and <br />tourism, changes in agriculture uses of the land and increased population. The water resources are <br />having additional demands and uses put on them because of this growth. <br />The project will have no significant social impacts, since it will assure the continued operation of <br />a currently existing irrigation system. The project will have minor physical impacts, once <br />construction is complete. The new pipeline will be in the same location as the existing open <br />ditch. <br />The Grand River Ditch Company is experiencing change from Agriculture use of water to uses <br />' in the Town of Silt for raw water use and by industry. The Agricultural use is changing to <br />smaller land owners growing hay and pasture, some nursery and tree farms with very few <br />conver�tional agriculture crops. <br />� The Ditch Company is continually dealing with changes and challenges caused by demands <br />from non-traditional agriculture users. Developers are requesting to dump additional water into <br />� the ditch from street and gutter drainage, and to pipe the ditch for crossings and to reduce <br />hazards of water within the development. <br /> � <br />