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• <br /> Economic Analysis <br /> The existing system is comprised of manual read meters,approximately 3400,that are old, age <br /> 25-40 years, inaccurate and failing to capture our customer's usage. The smart meter technology <br /> will provide data storage and the ability to proactively manage our distribution system. This <br /> investment will provide 20 years or more of accurate billing and tracking. Incorporating a meter <br /> change out program over the course of the effective life span will keep our system in this state. <br /> This project is identified in both the Comprehensive Plan; Policy 8.5.10 Establish and maintain <br /> an automated metering system; and the City's Capital Improvement Program Plan ranked#1. <br /> Cortez will have an immediate benefit of this project through capturing unmetered and under- <br /> metered water use in its distribution system, Our customers will benefit through accurate and <br /> timely billings and having the ability to provide data demonstrating their usage. Operational <br /> savings would result from the reduction of two full-time (FT) personnel and their associated <br /> vehicular costs to a 0.1 FT position. <br /> Increased revenues would result from the replacement of all of our meter stock. Lost revenues, <br /> due to under-metering by aged devices, would be realized. This is based on water industry <br /> assumptions of a system of our size and consumption data. <br /> Secondarily, unbilled and unmetered irrigation water being used by the Parks & Recreation <br /> Department would be billed to support this project. <br /> It would work out to an estimated savings of approximately $69,000 in personnel and increased <br /> revenues of$100,000 from under-metered water usage; totaling$169,000 annually. <br /> Social and Physical Impacts: <br /> This project will have no significant social impacts, since it will have little effect or disruption on <br /> the delivery of water during meter installation. The project will have minor physical impacts <br /> during meter installation or relocation, and none once meter installation is complete. In meter <br /> locations where the meter is being re-located out of a yard or from on or under a house, the new <br /> meter location will eliminate the need to trespass to read meters or to work on meters and will <br /> improve serviceability. <br /> Conclusions: <br /> 1. The City of Cortez is an incorporated entity in the State of Colorado with the ability to <br /> enter into a contract with the CWCB for the purpose of obtaining and Loan. <br /> 2. Rights-of-way easements are adequate for the installation and construction of meter pits <br /> for this project. <br /> 3. The project would provide for the continued delivery of water to Cortez residents during <br /> the project. <br /> 4. The total estimated cost of the project is $1,200,000 and this will be financed, in part by <br /> in-house matching funds ($300,000); a grant from DOLA ($200,000); a grant from CWCB <br /> ($50,000); and a loan from CWCB ($650,000 or$850,000). <br /> 10 <br />