C150385 Feasibility Study - Laserfiche WebLink

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Emergency Loan Application and Feasibility Study Beeman Irrigating Ditch and Milling Co. Beeman Irrigating Ditch and Milling Company is applying for a loan not to exceed $2,000,000. Detailed cost breakdown by phase is attached. Financial Analysis The Beeman Irrigating Ditch and Milling Co. has $36,378 in existing debt as summarized below: Lender Original Current Annual Maturity Collateral Balance Balance Payment Date 50% of the diversion CWCB $89,762945 $36,278.24 $55274.89 10/1/2022 dam Service on this debt is included in the current O &M assessment. The Beeman Irrigating Ditch and Milling Company's sources of income include: 1. Shareholder assessments 2. Interest on bank- accounts 3. Oil /gas royalties 4. Crossing agreement fees Schedule Construction of the Project is expected to commence as soon as possible, but preferably not later than December 1, 2013. The Project is anticipated to be completed in phases to allow the diversion of water for beneficial use under the ditch at the start of the 2014 irrigation season. Project elements which are not essential to restoring the ditch to service by the start of the 2014 irrigation season may be completed in Fall /Winter 2014 -2015 (see the attached preliminary schedule). Completion of the overall project is anticipated to occur before April, 2015. Economic, Social, and Environmental Effects The proposed project is necessary to continue agricultural production on the areas historically served by the Beeman and Meadow Island No.2 ditch companies and is necessary to keep the identified 5,032 acres in production and maintain the 14 agricultural enterprises which depend on this water source. This water is also used by PSCo to augment water usage at the Ft. St. Vrain electric generation station, located in the area. The headworks improvements will include installation of improved flow measurement capabilities to more accurately measure diversions at the structure and to improve allocations between the joint users of this infrastructure. Improved flow measurement will enhance the ability of Division 1 staff to administer water in this complex reach of the river and will benefit all water users along the river.