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Big Thompson and Platte River Ditch Company October 18, 2013 (Updated October 21, 2013) Page 3 of 4 Agenda Item 8e engineering and construction cost of this Alternative is $800,000 and is further broken down as follows: TABLE 2: PROJECT COST SUMMARY Task Cost Design $40,000 Permitting $0 Construction $640,000 Contingency $120,000 Total $800,000 Collaboration: The borrower is encouraged to consider rebuilding a river diversion system that enhances consumptive and nonconsumptive uses of water within the river corridor. Examples include improved fish passage, improved rafting/boating navigation, and possible shared ownership /use of a single diversion structure where possible. If needed, loan funds may be used for the construction of temporary diversion until such time that a multi - beneficial structure can be designed and constructed. Schedule: Project construction is expected to begin in January of 2014 with completion by May of 2014. Financial Analysis Table 3 provides a summary of the Project's financial aspects. The first three years of the loan will be assessed a 0% interest rate. The remaining term of the loan will be assessed a blended interest rate of 1.85% with the principal amortized over 27 -years (Ownership: 98% Agricultural and 2% Commercial). Staff is recommending an exemption to Financial Policy #I I to allow for 100% funding of eligible Project costs. TABLE 3: FINANCIAL SUMMARY Total Project Cost $800,000 CWCB Loan Amount (100% of total Project cost) $800,000 CWCB Loan Amount (Includin 1% Service Fee) $808,000 CWCB Annual Loan Payment $38,290 CWCB Loan Obligation (Including 10% Reserve) $42,120 Number of Shares 119.60 Annual Cost Per Share for Loan (Including 10% Reserve) $352 Current Assessment per Share $185 Future Assessment per Share 1 $572 Creditworthiness: The Company has $9,267 in existing debt with Kielian Construction Company. There is one annual payment remaining (due June 21, 2014). This debt is unsecured.