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Table 4. Project Financial Summary <br /> Project Cost $2,457,500 <br /> Loan Amount (90% of total probable cost) $2,211,750 <br /> CWCB Loan Payment Amount, including 10% loan reserve for 10 $110,577 $(7-1 ,1 32- <br /> years <br /> Number of Shareholders 149 <br /> Number of Shares of Stock 519.7 <br /> Current Assessment per Share $250 <br /> Future Assessment per Share (stair stepped increases) $480 <br /> Annual Project Cost per AF of Water Diverted $6.3C- <br /> (Average annual diversions: 18,610 AF) <br /> Collateral • <br /> As security for the CWCB loan, the Greeley Irrigation Company pledges assessment <br /> income and the project itself as described herein. The City of Greeley's 3/8 interest in <br /> the Greeley No. 3 Canal is not included in the collateral for this loan. <br /> Social and Physical Impacts <br /> The project will have no significant social impacts as it constitutes improvements and <br /> partial replacement of elements of the canal which is already in operation. The project <br /> will have minor physical impacts on the canal and the adjacent easement during <br /> construction activity. <br /> Contractor Recommendations <br /> Several local contractors may be interested in submitting bids for this project. When the <br /> final design and construction documents are completed, it is recommended that the work <br /> be competitively bid and a contract award made on the basis of not only the amount bid <br /> but with consideration to the experience level of the bidding contractors. It should be <br /> noted that elements of the work can logically be broken up into multiple bid packages <br /> and award could be made to multiple companies if this were found to be in the best <br /> interest of GIC. <br /> Table 5. Potential Contractors <br /> Contractor Contact telephone Work scope <br /> Hirschfeld 970-532-7875 General contracting <br /> Zak Dirt 303-289-4406 General contractin <br /> Hall Irwin 970-587-7200 General contracting <br /> Schmidt Earthmovers 970-962-9011 General contracting <br /> Aden Inc. 970-396-6565 Concrete structures <br /> Can Do Concrete 970- 352-8021 Concrete structures <br /> Aqua Engineering, Inc. Greeley Irrigation Company, Feasibility Study <br /> December 2006 - 8 - <br />