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Consolidated Home Supply Ditch and Reservoir Company October 18, 2013 (Updated October 21, 2013) Page 2 of 5 Agenda Item 8h Background The Company serves approximately 15,000 irrigated acres in Larimer County near Loveland. Its diversion structure, known as the Big Dam, is located on the Big Thompson River just downstream of the canyon mouth west of Loveland. During the unprecedented flood of September 2013 in the tributaries to the South Platte River, a significant number of diversion structures and dams along the river corridor were damaged, including the Company's river diversion. The Big Dam on the Big Thompson River is a 65 -feet high, 70 -feet long, and 5 -feet wide masonry arch dam built in 1895. It is a low hazard non jurisdictional dam. The reservoir is filled with alluvium and only a few acre -feet of water is stored to create enough backwater to run the ditch. The Company's headgate is located on the south abutment and the City of Loveland's headgate is on the north abutment. The Big Dam itself is owned by the Company. Prior to the 2013 flood, the diversion structure was fully functional and in place. During the 2013 flood, the top five feet of the masonry structure was washed out and the mortar between masonry blocks on the north abutment was partially lost. Field observations show that the river was overtopping the structure by approximately 10 feet. Loan Feasibility Study Minerva Lee, President of The Consolidated Home Supply Ditch and Reservoir Company, with assistance from Deere & Ault Consultants, prepared the Loan Feasibility Study titled "Emergency Loan Application and Feasibility Study," dated October 2013. The study includes an alternative analysis and preliminary engineering design and cost estimates. Deere & Ault's preliminary examination and proposed repair letter dated October 16, 2013 was included as an attachment to the feasibility study. The study was prepared in accordance with the CWCB guidelines. Borrower — Consolidated Home Supply Ditch & Reservoir Company. The Company is a mutual ditch and reservoir company that was established in 1882. The Company's office is located in Berthoud. It operates as a nonprofit corporation and is in good standing with the Colorado Secretary of State. The Company has issued 2,001 shares of stock. The Company's revenues are primarily derived from assessments charged on shares of stock owned by the stockholders. The Company's by -laws (2001) authorize the Board of Directors to manage the business and affairs to the Company and to borrow money through a resolution of the directors. The Board has the authority to take measures to enforce assessments, including the suspension of water deliveries and the eventual sale or forfeiture of shares for failure to pay assessments.