C150374 Feasibility Study - Laserfiche WebLink

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Emergency Loan Application and Feasibility Study Boulder and Larimer Ditch Company Task Cost* Engineering design of the wing wall of the dam $ 5,000 Debris removal from the dam and head gate system $ 30,000 Fill dirt to reestablish the north river bank $ 20,000 Riprap for the river bank $ 10,000 Concrete work to repair the diversion dam and head gate structure $ 35,000 Surveying & engineering design of the washout $ 55,000 Silt and debris removal $ 30,000 Preliminary estimate for the retaining wall and water conveyance structure $120,000 Total $305,000 *these costs represent 50% of the total costs of repair. The Ish Reservoir Company will be responsible for the other 50% of the cost of repairs The Boulder and Larimer Ditch Company is applying for a loan not to exceed $200,000. Financial Analysis The Boulder and Larimer Ditch Company has no existing debt. The Boulder and Larimer Ditch Company sources of income include: Annual stock assessments of $ 14,000 Annual fishing lease payment of $ 27,000 Total revenues $ 41,000 Schedule Debris removal has already begun. Construction of the Project is expected to commence November 2013. Project completion is estimated to occur by March 2014 to allow diversion of spring runoff. Economic, Social, and Environmental Effects Since the Ish Reservoir provides the primary water source to at least 5,000 acres of farm ground south of Berthoud, the economic impact to the area would be catastrophic if the diversion dam and inlet structure cannot be repaired in a timely fashion. Most of the 72 shareholders are farmers who make their living from agriculture. They are counting on water from the Ish Reservoir to be able to produce crops and make their loan payments to stay afloat. In addition, the Ish Reservoir provides hunting and fishing activities for a private club. The reservoir is stocked with fish that would be lost if the diversion is not repaired.