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Trinchera Irrigsaon Company <br />March 21, 2011 <br />Page 3 of 5 <br />Age�da item 25a <br />(*Selected *) Alternah`ve No. 3— Insiall a 36" irrigatron pipeline: This altemative incIudes the <br />installation of a 36" irri�ation pipeline to deliver water to shareholders. The increase� diameter <br />affords the necessary capacity to c:onvey excess water during times af above average flows. The <br />Cvmpany selected this alternative in order to eliminate the reliance on a deteriorated channel and <br />headgate. The selected bid price for the construction of the project is $277,000, and includes the <br />following tasks: <br />• Installation of a new concrete di�arsian headgate structure to divert vvater from NewCon <br />Ditch #2 <br />• Installation of approx.imately 2,300 LF of 36" low head irrigation pipe, including 4 air vents <br />• Renovating the concrete siphon inlei structure to accommodate a new trash rack <br />• Rock riprap installadon at the siphon autlet stzvcture <br />Tbe contractor, Gardner Excavating, Inc., is estimating a three week construction schedule. The <br />project is expected to begin construction immediately following appro�val of the loan request. <br />TABLE 2: TOTAL PRO.IECT COST SUMIVIARY <br />Task Cost <br />Engineering $0 <br />{prepared by NRCS) <br />Construction $277,U00 <br />Total $277,000 <br />Financiat Analysis <br />Table 3 provides a summazy of the financial criteria of the loan request. The Company qualifies for <br />an agriculture interest rate of 2.75% for a 30-year terfn. <br />Creditwortlriness: <br />"I'he Campany had three previous Iaans approved by the GWCB and all are in �,aod standing. <br />� Trinchera Watershed Proieet, this $25I,6901oan was appraved in 1977 and haci annual <br />payments of $11,238. This loan was paid in full in Apri12009. <br />TABLE 3: FINANCIAL SUMMARY <br />