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Parker Water&Sanitation District Agenda Item 30c <br /> May 9,2014(Updated May 23,2014) <br /> Page 6 of 7 <br /> TABLE 3: CONTRACTING SUMMARY <br /> Earliest Time of CWCB Loan <br /> Contract Contract Project Cost Contract Amount Project Activity <br /> Performance <br /> Date (w/o service fee) <br /> 1 7/1/2014 2 Years $ 4,870,000 $ 4,383,000 ECCV Pipeline Purchase <br /> 2 1/1/2015 4 Years $ 7,464,600 $ 6,718,140 Phase 1 Infrastructure <br /> 3 1/1/2015 8 Years $ 3,760,900 $ 3,384,810 Phase 2 Infrastructure <br /> 4 7/1/2014 8 Years $ 1,210,000 $ 1,089,000 DIA Connection <br /> Totals $ 17,305,500 $ 15,574,950 <br /> * Project Cost is defined as the District's participation cost in the overall WISE Project. <br /> Contracting: In anticipation of a multi-year and multi-phased project, CWCB will enter into multiple <br /> contracts, for increments of the approved loan limit. This will put the District into repayment on <br /> completed portions of the Project and allow CWCB to best utilize its loan funds. CWCB will enter into <br /> contracts for project activities no sooner than the dates shown in the above table. Given the potentially <br /> long Time of Performance of each contract, interest during construction will be required to be paid <br /> annually unless otherwise approved by CWCB. <br /> Loan Feasibility Study <br /> Black & Veatch prepared a Loan Feasibility on behalf of the WISE Authority dated October 23, 2013 <br /> and titled "Water Infrastructure and Supply Efficiency Project Loan Feasibility Study". This study was <br /> prepared in accordance with CWCB guidelines and includes an alternatives analysis, conceptual design <br /> descriptions, exhibits, cost estimates, and financial statements audited by Clifton Gunderson LLP. <br /> Additional clarification and information was provided by Eric Hecox and Rick Marsicek, P.E. of South <br /> Metro Water Supply Authority(SMWSA). <br /> Financial Analysis <br /> Table 4 shows a summary of the financial aspects of the Project. Based on the median household <br /> income of its members, the District's interest rate is the reduced high municipal income rate of 2.75% <br /> for a 20-year term. <br /> TABLE 4: PROJECT FINANCIAL SUMMARY <br /> Total Project Cost $ 17,305,500 <br /> Borrower Match $ 1,730,550 <br /> CWCB Loan $ 15,574,950 <br /> CWCB Loan(Including 1% Service Fee) $ 15,730,700 <br /> CWCB Annual Loan Payment $ 1,033,062 <br /> CWCB Loan Obligation(including 10%debt reserve funding) $ 1,136,368 <br /> Monthly Cost of Loan per SFE(incL debt reserve) $ 4.95 <br /> Cost per Acre-Foot of Subscnbed Deliveries $ 14,421 <br /> CWCB will disburse loan funds at a rate of up to 90% of Project Cost, up to the approved loan contract <br /> limit. <br />