C150332 Feasibility Study - Laserfiche WebLink

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Alternative Financing Considerations TIC has secured the above alternative financing sources. Collateral TIC will use the existing collateral currently held by CWCB. Economic Analysis The economic benefit of the project is considerable. It is extremely important for TIC to fully utilize the storage capacity of the dam. Based on calculations by URS, Inc. to build a 2000 ac.ft. storage facility it would cost $7500 / ac.ft. or $15 million dollars. The $15 million value far outweighs the $4.42 million cost of the project. At the November 17, 2011 annual meeting the shareholders passed a resolution approving the consolidation of the three loans and borrowing an additional $1 million to complete the Terrace Irrigation Spillway Replacement Project. Social and Physical Impacts Terrace Irrigation Company has partnered with Alamosa RIVERKEEPER ® to establish an in stream flow on the Alamosa River. By replacing the spillway at the Terrace Reservoir, the project lifts the State's storage restriction on the reservoir, providing the storage required for up to 2000 ac.ft. of instream flow water rights acquired or soon to be acquired by Alamosa RIVERKEEPER ®. Instream flow in the Alamosa will improve the health of the riparian corridors and the fishery, which is beginning to recover. In addition, instream flow in the Alamosa River will improve irrigation water delivery and contribute to additional recharge of the Basin's aquifers, with the potential to raise the groundwater levels. As an additional benefit the Project will improve the function of the historic flood plain reducing the risk of flood for Capulin and its surrounding farming communities. In the Rio Grande Basin's semi -arid environment, water is over appropriated, with many competing demands placed on it by an ever - increasing population. Lifting the storage restriction on Terrace Reservoir is the one critical element — storage — needed in order to create instream flow on the Alamosa. CWCB has long recognized the need "to correlate the activities of mankind with the reasonable preservation of the natural environment," and is responsible for the appropriation, acquisition, protection, and monitoring of instream flow. Replacing the Terrace spillway allows for raising the reservoir level, thus enhancing wildlife habitat, encouraging recreation, and improving the fishery. Several entities have expressed their support of this project. Division of Parks & Wildlife, Capulin Water District, Conejos County Board of Commissioners, San Luis Valley Irrigation District, Alamosa-La Jara Conservancy District, and Valle del Sol Community Center. 5