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Lone Cabin Ditch & Reservoir Company Agenda Item 29c <br />September 13, 2013 (UPDATED September 26, 2013) <br />Page 6 of 7 <br />CWCB Loan Program <br />Financial Analysis <br />The Company qualifies for the agricultural interest rate of 1.75% for a 30 -year term. Table 3 <br />provides a financial summary of the loan request. <br />TABLE 3: LOAN FINANCIAL SUMMARY <br />Total Project Cost <br />$334,300 <br />WSRA Grant Funding (25% of total Project cost) <br />$84,000 <br />CWCB Loan Amount (75% of total Project cost) <br />$250,300 <br />Loan Amount with 1% Service Fee <br />$252,800 <br />CWCB Annual Loan Payment <br />$10,900 <br />CWCB Loan Obligation (including 10% debt reserve funding) <br />$12,000 <br />Total Project Cost per AF Restored (using 163AF) <br />$2,050 /AF <br />Annual Project Cost per share (8,628 shares) <br />$1.40 /Share <br />Assessments <br />Before <br />After* <br />Assessments per share <br />$3.25 /share <br />$4.41 share <br />* Company plans to minimize share increase to cover O &M and Debt Service <br />Creditworthiness: The Company has an existing loan with CWCB (C153517) with an existing <br />balance of $58,630. The Company has made 21 of the 40 annual payments of $4,094.48. In 2004, <br />the Company made a partial annual payment; however, they were back on track by 2005's annual <br />payment date. Security for this loan is an 80% interest in the "project" components. <br />Additionally, the Company is a shareholder in Beaver Reservoir Company. The Company has an <br />annual obligation to repay the Company's portion of a CWCB loan to Beaver Reservoir Company <br />(C 150190). The Company's portion of this debt is $8,113.85. This loan has a balance of approx. <br />$462,000 and has a payoff date in 2038. <br />