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Exerpt from "Cucharas Dam Rehabilitation CWCB Loan Request, October 2010, "
<br /> loan feasibility study.
<br /> FINANCIAL OVERVIEW •
<br /> PREVIOUS CWCB LOAN
<br /> Some elements of Phase I are the same as the design, permitting and construction activities
<br /> previously reviewed and approved by the CWCB in an amount of $1,622,060. However, some
<br /> elements of that plan are redundant if a new dam is constructed. To date, HCIC has not submitted
<br /> any requests for funding from the previously approved loan while the diligence on a new dam was
<br /> completed. Therefore, HCIC would respectfully like to withdraw the previously approved loan
<br /> request.
<br /> NEW CWCB LOAN APPLICATION
<br /> Based on developments in HCIC subsequent to the previous CWCB loan approval, HCIC respectfully
<br /> requests a new loan for $9,990,000 (including CWCB loan fees) which is divided into two parts
<br /> consistent with the two phases of the above described development plan.HCIC requests$1,606,000
<br /> to complete the requirements enumerated in Phase I section of this loan application. HCIC requests
<br /> $8,384,000 as part of the capital required to complete the requirements enumerated in Phase II
<br /> section of this loan application.
<br /> TABLE OF PROJECT FUNDING AND REPAYMENT SOURCES
<br /> Dam
<br /> Year and CWCB draws construction Per share
<br /> 4110
<br /> Calendar (includes loan costs CWCB Debt New member shareholder
<br /> Quarter fees) (cumulative) Service shares sold assessment
<br /> 2011 Q1 - $560,000 - - $84
<br /> 2011 Q2 $ 1,606,000 $560,000
<br /> 2011 Q3 - $1,041,000
<br /> 2011 Q4 - $1,601,000 $30,000
<br /> 2,500 shares @
<br /> 2012 Q1 - $1,601,000 $30,000 $148
<br /> $2,400/share
<br /> 2012 Q2 - $2,663,000 $30,000
<br /> 2012 Q3 $8,384,000 $15,127,000 $30,000
<br /> 2,500 shares @
<br /> 2012 Q4 - $21,890,000 $182,000 -
<br /> $2,750/share
<br /> 2013 Q1 - $24,144,000 $182,000 - $137
<br /> 2014 and
<br /> subsequent - $24,144,000 $182,000 - $137
<br /> years
<br /> •
<br /> CWCB Loan Narrative Overview 15
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