Laserfiche WebLink
Left Hand Ditch Company <br />October 18, 2013 (Updated October 21, 2013) <br />Page 6 of 7 <br />TABLE 3: PROJECT COST SUMMARY <br />Task <br />Cost <br />Design <br />$442,000 <br />Permitting <br />$22,000 <br />Construction <br />$2,100,125 <br />Other (includes bonding, <br />mobilization <br />$166,670 <br />Contingency <br />$512,825 <br />Total <br />$3,243,620 <br />Agenda Item 8b <br />Collaboration: The borrower is encouraged to consider rebuilding a river diversion system that <br />enhances consumptive and nonconsumptive uses of water within the river corridor. Examples <br />include improved fish passage, improved rafting/boating navigation, and possible shared <br />ownership /use of a single diversion structure where possible. If needed, loan funds may be used for <br />the construction of temporary diversion until such time that a multi - beneficial structure can be <br />designed and constructed. <br />Schedule: Construction of the Project is expected to commence in October of 201. The Project is <br />expected to take approximately 18 months. The entire schedule will be rushed to the maximum <br />amount practicable to minimize impacts to shareholders in the 2014 irrigation season. However, <br />because diversion dams must be designed and then built during times of appropriate low flows, it <br />may be difficult to have some facilities installed prior to the 2014 irrigation season. <br />Financial Analysis <br />Table 3 provides a summary of the Project's financial aspects. The first three years of the loan will <br />be assessed a 0% interest rate. The remaining term of the loan will be assessed a blended interest <br />rate of 2.30% with the principal amortized over 27 -years (Ownership: 46% Agriculture, 38% <br />Middle- Income Municipal, and 16% High- Income Municipal). Staff is recommending an <br />exemption to Financial Policy #11 to allow for 100% funding of eligible Project costs. <br />TABLE 4: FINANCIAL SUMMARY <br />Total Project Cost <br />$3,243,620 <br />CWCB Loan Amount (100% of total Project cost) <br />$3,243,620 <br />CWCB Loan Amount (Includin 1% Service Fee) <br />$3,276,056 <br />CWCB Annual Loan Payment <br />$164,231 <br />CWCB Loan Obligation (Includin 10% Reserve) <br />$180,654 <br />Number of Shares <br />16,647 <br />Annual Cost Per Share for Loan (with Reserve Account) <br />$11 <br />Current Assessment per Share <br />$17 <br />Future Assessment per Share <br />$28 <br />