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Table of contents <br /> Introduction 5 <br /> Project Participant 5 <br /> Project Service Area, and Governmental shareholders 5 <br /> Water Rights /MVIC service area/ Share holders 5 <br /> History of the May Lateral, Project Description reviewed Alternatives and Logic for <br /> construction of the pipeline. 6 <br /> The May Lateral has been part of(MVIC's) since circa 1906. This Canal has not been <br /> significantly altered since the early 70's. At that time the lower portion of the May <br /> (approximately %2 mile) was put into a concrete lined ditch. This section of the canal is <br /> now replete with cracks and large holes in the concrete 6 <br /> The May Lateral delivers a total of 1610 shares to 105 shareholders. These shareholders <br /> represent 7 % of the total number of shareholders within the MVIC system. 6 <br /> 1. The no-action alternative. 6 <br /> 2. Continue with temporary repairs. ($1200.00 - $4000.00 per year). 6 <br /> 3. Repair concrete portion of canal ($1.5 million). 6 <br /> 4. Put entire canal into pipe (5.8 million) 6 <br /> Engineering schedule/cost Implementation Schedule 6 <br /> (As prepared by Agritech engineering) 6 <br /> Financial Analysis 8 <br /> Alternative financing considerations: 9 <br /> Collateral: 9 <br /> Social and Physical Impacts 9 <br /> Conclusions 9 <br /> 1. MVIC is an incorporated entity in the State of Colorado with the ability to enter into <br /> a contract with the CWCB for the purpose of obtaining a Construction Fund loan. 9 <br /> 2. Rights-of Way easements are adequate for the construction of this project 9 <br /> 3. The project would provide for the continued delivery of irrigation water to share <br /> holders 9 <br /> 4. The total estimated cost of the project is $5.8 million and this will be financed, in <br /> part, by in- house financing, in-kind services, and a grant from the NRCS.. 9 <br /> 5. (MVIC) is eligible for a loan from the CWCB 9 <br /> 6. The project is technically and financially feasible 9 <br /> Figure 1 Error! Bookmark not defined. <br /> Showing May lateral Project area Error! Bookmark not defined. <br /> Figure 2 Error! Bookmark not defined. <br /> Showing location of MVIC within the State Error! Bookmark not defined. <br /> Figure 3 Error! Bookmark not defined. <br /> MVIC system Error! Bookmark not defined. <br /> Figure 4 Error! Bookmark not defined. <br /> Property distribution Within Montezuma County Error! Bookmark not defined. <br /> Names of Canals and Property distribution in Montezuma CountyError! Bookmark <br /> not defined. <br /> 2 <br />