C150341 Feasibility - Laserfiche WebLink

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Implementation Schedule Task Start Date Finish Date 1: Design Upon NTP * NTP + 60 days 2: Biddin Upon NTP NTP + 90 days 3: Construction NTP + 60 -90 days NTP + 180 days 4: Management Upon NTP NTP + 180 days Impacts Impacts will be minimal. The reservoir will not be drawn down for construction. Access to the site is from County Road 11, and the dam access road is entirely on Pisgah Reservoir and Ditch Company property. Institutional Feasibility Task 1 scope includes producing drawings, specifications and bid documents suitable to obtain approval from the State Engineer's Office. SEO approval is the only approval anticipated to be necessary for this project. Financial Feasibility Analysis The Pisgah Reservoir and Ditch Company is applying for a loan from the CWCB in the amount of $161,345. The estimated total cost of the project is $362,690. In addition to the loan amount, the Company is asking for $25,000 in Basin WSRA funds and $136,345, in Statewide WSRA funds. The Company has spent $33,923.35 on engineering costs for this project prior to this point. In addition to monies already spent, the Company has committed an additional $40,000 in matching funds for this project. The Company requests a 30 -year note, with an interest rate of 1.75 %. The Company has been saving money in anticipation of needed repairs. Financial statements show a healthy reserve and annual net. No extra assessments should be required to fund debt service. Wright's Reservoir is offered as collateral for the loan. No TABOR issues apply. See Appendix I for Financial Statements. Conclusions Funding by a combination of WSRA Grants and CWCB Loan ensures the financial viability of this project, and also ensures that much - needed repairs will be constructed in a timely manner, thereby avoiding potential SEO restrictions.