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Feasibilitc Shide <br />Farmers' High Line Canal and Reservoir Company <br />October 2010 <br />ALTERNATIVE FINANCING CONSIDERATIONS <br />Canal Company Representatives met with Loan Officers from North Valley Bank of Thornton, <br />Colorado and Wells Fargo Bank in Brighton. The Company was not interested in the high interest <br />rates offered and no offer of a fixed rate. Private money from shareholders was also considered, but <br />there was not a long term offered by any of the Company Shareholders. <br />COLLATERAL <br />The Canal Company offers the following collateral for the CWCB loan: <br />Pledge of revenue stream flow from the Canal Company assessments <br />The project structures, themselves (the structures are owned by the Canal Company and can <br />be offered by a vote of the Board of Directors) <br />ECONOMIC ANALYSIS <br />This loan would enable the project to be performed. Without the load only a portion of the project <br />could be implemented. Based on the cost estimates ancl the other financial analysis the loan could <br />be paid bacic over the course of 30 years. <br />SOCIAL AND PHYSICAL IMPACTS <br />The area of the worlc is generally in areas that do not have public access. Because of this, the worlc <br />could be performed without any impact on the public at all. The exception to tlus be the worlc to <br />performed at the Ralston Creelc Siphon. The area of the worlc would be near a golf course and trail. <br />Traffic control could be implemented to route the public using the trail around the project area. No <br />impact to play at the golf course other than construction noise and activity along a trail between <br />fairways is anticipated. Constn�ction hour limitations may be necessary to liinit impact to the golf <br />course neighborhood. The work will be scheduled to occur during the non-irrigation season which <br />corresponds with non-pealc golfing season. <br />CONCLUSIONS <br />The proposed project is both techiucally and financially feasible. FHL has the consultants <br />necessary to implement all parts of the project and has the ability, through assessments, to service <br />the requested loan from the CWCB. <br />-15- <br />