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application and this feasibility study, to request a Colorado Water Conservation Board loan which would be directly related to financing the cost of the phased improvements described here. This study reports on the feasibility of making the desired improvements in consideration of the alternatives (when alternatives exist other than a do-nothing alternative), the probable costs, and the Company's plans for repayment of a CWCB loan. Project Sponsor The Greeley Irrigation Company (GIC) is a non-profit mutual irrigation company registered in the State of Colorado. There are 149 shareholders and 519.7 shares of stock outstanding. The GIC Board of Directors sets annual assessments that are used to pay the expenses of operating the Company, including capitalized costs for improvements. Currently, the assessments are $250 per share. Water deliveries to shareholders that may not have paid the annual assessments can be terminated. The Company can sell stock, if necessary, to pay past due assessments. GIC's articles of incorporation and by-laws are included in Appendix A. Contacts for the GIC Board, officers, staff, attorney, and engineer are listed in this report immediately following the title page. Project Service Area and Facilities Greeley Irrigation Company provides irrigation water to a service area of approximately 2,367 acres' in Weld County, Colorado. See Figure 1 (bound herein and folded in the binder pocket) for a map of the entire canal system. Historically, irrigated crops are alfalfa, beans, corn (grain corn and sweet corn), grass hay, potatoes, vegetables, sugar beets, tomatoes, trees, and landscapes. Generally speaking, the Company's facilities consist of a diversion structure on the Poudre River, approximately 13 miles of earthen canal, check structures, delivery headgates, spill structures, trash screens, and other minor structures typical of earthen canal irrigation systems. A portion of these facilities are in need of repair, upgrades, or replacement. Water Rights Direct flow water rights controlled by the Greeley Irrigation Company (GIC)were decreed in Civil Action No. 320 by the District Court, Larimer County, State of Colorado, on April 11, 1882, and in a later adjudication on December 22, 1927. The GIC diverts its water from the Cache la Poudre River at the headgate of the Greeley Canal No. 3. Direct flow right appropriation dates and amounts are as shown in Table 1. This service area was reported in the Poudre Prairie change case(January 1997)for cropping year 1993. Aqua Engineering, Inc. Greeley Irrigation Company, Feasibility Study December 2006 - 2 -