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Trinchera irrigation Company Agenda {tem 25a <br />March 21, 20 i 1 <br />Page2of5 <br />Loan Feasibility Study <br />The Company prepazed the Loan Feasibility Study titled, "Feasibility of Garland Two Canal <br />Repairs," dated January 24, 2011. Assistance was provided by Jane Devine, Campany O�ce <br />Manager; Merrit Gardner, Gazd�er Excavating, Inc.; and the NRCS for preparation of construction <br />documents. The study was prepared in accordance with the CWCB guidelines and includes <br />Company by laws, construction documents, and a 2010 stockholder list. <br />Trinchera Irrigatian Company <br />The "frinchera Irrigation Company, located in Costilla County, is a non-profit mutual irrigat�on <br />company incor�orated an February 4, 1944. It awns and aperates two reservoirs {Smith and Mt. <br />Home reservoirs) and approximately 26 miles of canals and 45 miles af taterals. The Company <br />services approximately 14,100 acres of farm land and delivers an annual average of 26,700 acre- <br />feet. <br />The Campany is managed by a five•member board of directors. There aze 40 shareholders and <br />12,500 shares of stock, 12,396 of which are currently issued (the remaining shares are held by the <br />Company). The board has the power to enter into contracts, cut off water deliveries to shareholders <br />wi�o fail to pay their assessments, and the pnwer ta offer stock for sale to collect outstanding <br />assessments. Revenues are generated from assessments voted on and set by shareholders at the <br />annual board meetin� held on the 2" Tuesday of each Mazch. <br />Water Rights <br />The Project will not require any additional water.rights beyond the Cornpany's current portfolia. <br />T'he Garland #2 Canal, with an average anrruai yield of 3,700 AF, is supplied by a diversion along <br />Newton Ditch #2, and consists af the following rights: <br />Project Description <br />The Compa�y considered the fatlawing three alternatives for improving the delivery of irri�ation <br />water through the Gazia�d #2 Cana1: <br />Alterrrative No. 1— No immediate actian: This alternative was considered unacc�ptable ta the <br />Company based an the deteriorated condition of the canal and the agricuitural dependence on <br />irrigation water. <br />�1lternatrve No. 2— InstaCl a 24" irrigation pipeline: This alcemative includes the instaltatinn of a <br />?4" PVC pipeline to deliver wat�r to sharehalders, utiliung the existing cana) to canvey excess <br />water durin� times af higher than average flows. This altzrnative �vas not chasen as it lacked <br />excess capacity to canvey above average flows, r�sulting in an increased potential far c�naI erosion <br />arYd/or canal failure. <br />TABLE 1: PR03ECT WATER RIGHTS <br />