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<br /> <br />Page | 13 <br /> <br /> <br />Georgetown Lake Dam Outlet Modification Project – Georgetown Colorado <br />XII. F UNDING R EQUIREMENT S CHEDULE <br />As noted in the Town’s loan application dated 1 March 11, the applicant is requesting a <br />$3,000,000 project loan in association with an overall project pro-forma and forward looking <br />budget of $3,275,000. <br />The pro-forma cash flow demand is modeled as follows. <br />Period Amount <br />August – December 2011 $250,000 <br />January to April 2012 $200,000 <br />April to December 2012 $2,825,000 <br /> <br />Currently the pro-forma schedule assumes engineer/design efforts would commence shortly <br />after receiving CWCB loan commitment. Engineering and design would continue throughout <br />the remainder of 2011 and into the spring of 2012, at which time the project would move into <br />the construction phase with anticipated substantial completion of the Project by the end of 2012. <br /> <br />XIII.F INANCIAL P LAN <br />The Town’s financial plan is to secure financing through CWCB as noted in the Town’s CWCB <br />loan application dated 1 March 11. <br />Through the Vidler Agreement, as noted above, Georgetown and Black Hawk as parties to the <br />agreement are responsible to pay a percentage of any Lake improvements. Georgetown is <br />currently negotiating with Black Hawk in terms of contributing up to 50% of the project costs. <br />The form of that contributions, e.g., whether or not Black Hawk decides to contribute its portion