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Alternative financing considerations: <br /> MVIC has already invested/or agreed to pay approximately $340,000.00 for the <br /> construction of the May Pipeline. Costs include, engineering costs, construction cost for a <br /> new check structure for the delivery of water into the May Canal and the purchase of a <br /> new John Deere Track hoe(240D) specifically for the construction of the pipeline. Other <br /> sources of alternative financing which have been investigated and/or being investigated <br /> include NRCS funding(EQUIP) and a grant application for NRCS Conservation <br /> Innovation Grant(CIG) sources. <br /> Collateral: <br /> As security for the CWCB loan MVIC can pledge assessment income, and the <br /> project itself. <br /> Social and Physical Impacts <br /> The project will have no significant social impacts, since it will assure the continued <br /> operation of a currently existing irrigation system. The project will have no major <br /> physical impacts, once construction is complete. <br /> Conclusions <br /> 1. MVIC is an incorporated entity in the State of Colorado with the ability to enter into a <br /> contract with the CWCB for the purpose of obtaining a Construction Fund loan. <br /> 2. Rights-of Way easements are adequate for the construction of this project. <br /> 3. The project would provide for the continued delivery of irrigation water to share <br /> holders. <br /> 4. The total estimated cost of the project is $5.8 million and this will be financed, in part, <br /> by in-house financing, in-kind services, and a grant from the NRCS.. <br /> 5. (MVIC) is eligible for a loan from the CWCB <br /> 6. The project is technically and financially feasible. <br /> 9 <br />