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Emergency Loan Application and Feasibility Study [LEFT HAND DITCH COMPANY] Page | 19 <br /> <br />and Reservoirs <br />CWCB <br /> <br />C150336 $1,157,157 $1,157,157 <br /> $54,918 <br /> TBD <br /> <br />Pledge of <br />assessment <br />revenues <br /> <br />The Left Hand Ditch Company’s sources of income include: <br /> <br />The left Hand Ditch Company covers its operating budget and other obligations through an <br />annual shareholder assessment. A small amount of income is received from interest on bank <br />accounts and leases of recreational facilities. <br /> <br />A Shareholder list that identifies stockholder name, number of shares owned, and whether the <br />owner is an agricultural or municipal entity is attached as Appendix B. <br /> <br />The company financial reports for 2012 and 2011 are attached as Appendix C and D <br />respectively. <br /> <br />Schedule <br /> <br />Construction of the Project is expected to commence October, 2013 or at the date that date that a <br />loan and/or other funding is secured which will enable the company to begin work. Project <br />completion is expected to take approximately eighteen months. The entire schedule will be <br />rushed to the maximum amount practicable to minimize impacts to shareholders in the 2014 <br />irrigation season. However, because diversion dams must be designed and then built during <br />times of appropriate low flows, it may be difficult to have some facilities installed prior to the <br />2014 irrigation season. <br /> <br />Economic, Social, and Environmental Effects <br /> <br />The project will have a significant positive economic impact as the Left Hand Ditch Company <br />is the principle source for irrigation water in the Left Hand Valley. By repairing and replacing <br />the destroyed and damaged irrigation facilities, irrigation water will be restored to between <br />12,000 and 15,000 acres of irrigated farm land in Boulder County, Colorado. Other <br />agricultural benefits such as the provision of water to local ranching operations will be <br />restored. <br /> <br />The Left Hand Water Distrct is a company shareholder and relies on the ditch system to <br />receive raw water that it uses to treat and deliver into the community. Restoring the facilities <br />of the Left Hand Ditch Company will allow the company meet its water delivery obligations <br />to the Left Hand Water District. <br /> <br />Both the City of Boulder Open Space and Mountain Parks Department and the Boulder <br />County Parks and Open Space Department own land irrigated by the Left Hand Ditch