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Last Chance Ditch Company <br />Financial Feasibility Analysis <br />Loan Amount <br />Last Chance Ditch Company is requesting a loan in the amount of $250,000 <br />from the Colorado Water Conservation Board for the project cost. A copy of the <br />CWCB Loan Application is found in the Append�. <br />A$250,000 CWCB loan at 4.55% interest over a 30-year repayment period <br />would calculate to an annual payment of approximately $15,438.29. <br />Financing Sources <br />Last Chance Ditch is pursuing a loan with CWCB and is seeking no other <br />sources of funding for the headgate replacement project. <br />Financiats <br />Last Chance Ditch Company is iinancially strong as the table belo��� indicates. <br />Last Chance has substantial funds in both their checking account and in a <br />certificate of deposit. In most years the share assessment value is enough to <br />cover yearly expenses. Ho�vever, in 2009/2010 AGPROfessionals, LLC (AGPRO) <br />was hired to perform "Headworks Modernization Feasibility Study and <br />Preliminary Design" report. In 2011 AGPRO �vas again hired to perform this <br />loan feasibility study. These are not annual expenses and should not be <br />considered as such. <br />2010 Checking Account Beginning Balance $35,312.43 <br />2010 Income $14,352.00 <br />2010 Expenses $17,907.42 <br />Closing Balance of Checking $31,757.01 <br />Reserve Fund (certificate of deposit) $47,957.74 <br />Total Funds Avai�able $79,714.75 <br />Operation and maintenance costs are anticipated to decrease due to the <br />replacement of the headworks. Although some maintenance costs �Till <br />continue until a proper dam can be installed, these costs can be <br />accommodated by Last Chance's existing budget. The table belo�v sho��-s the <br />2010 through 2015 projected income and expenses. <br />ast ance itc ompany oan easi i ity tu y age o <br />