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Larimer and Weld Irrigation Company Agenda Item 16a <br /> September 21-22, 2016 Board Meeting(Updated September 22, 2016) <br /> Page 2 of 5 <br /> Background <br /> The Company's service area extends from the Cache la Poudre River diversion north of Fort Collins, <br /> east to near the town of Galeton, encompassing approximately 61,000 acres of irrigated land in <br /> Larimer and Weld Counties. Crops grown in the service area include corn, beets, pinto beans, wheat, <br /> barley, oats, alfalfa, grass hay, and other vegetable crops. The Company's facilities consist of <br /> approximately 40 miles of the Larimer Et Weld Ditch (aka Eaton Ditch), including many control <br /> structures, checks, and headgates. This ditch allows delivery of approximately 54,000 - 60,000 AF of <br /> water per year through headgates into lateral ditches, directly onto fields, or into reservoir storage. <br /> The diversion as it exists today was built in 1921 and consists of a diversion dam across the Cache la <br /> Poudre River, a forebay structure with a trash rack, and a headgate structure. Over the years there <br /> have been numerous minor repairs, mostly in the nature of concrete patching. During the September <br /> 2013 flood, there was significant damage to the headgates, including the motors being fully <br /> submerged, requiring them to be rebuilt and retrofitted. The Company repaired the flood damage using <br /> cash on hand as well as the CWCB/Northern emergency grant program. <br /> The Company plans to eventually repair or replace all components of the diversion, but has determined <br /> a phased approach will better allow for all work to occur in the non-irrigation season. The headgate <br /> structure is the top priority due to its operational importance and deteriorating condition. In addition <br /> to benefits to the shareholders, the reliable operation of the gates plays an important role to the City <br /> of Fort Collins due to the ditch's use as a conveyance path in the Dry Creek Flood Control Plan. During <br /> a flood in the Dry Creek Basin, the ditch will intercept flood flows and safely carry the water <br /> downstream. Therefore, it is of great importance for life, safety, and prevention of property damage, <br /> that the ditch's upstream headgate off the Poudre River be able to close so there is capacity available <br /> in the ditch to handle flood flows. <br /> Loan Feasibility Study <br /> Brad Anderson, P.E. of Anderson Consulting Engineers, prepared the Loan Feasibility Study, titled <br /> "Feasibility Study for Rehabilitation of Larimer Et Weld Irrigation Company Canal Diversion on the <br /> Cache la Poudre River," dated July 10, 2016. The feasibility study was prepared in accordance with the <br /> CWCB guidelines and includes an analysis of alternatives, preliminary engineering design, and <br /> construction cost estimates. <br /> Borrower - Larimer and Weld Irrigation Company <br /> The Company is a Mutual Ditch Company that was established in 1879. The Company's office is located <br /> in Eaton. It operates as a nonprofit corporation and is in good standing with the Colorado Secretary of <br /> State. The Company has issued 1,419 shares of stock and has 356 shareholders. The Company's <br /> revenues are primarily derived from assessments charged on shares of stock and from carriage <br /> agreements with the Larimer and Weld Reservoir Company and the Windsor Reservoir and Canal <br /> Company. <br /> Assessments are set at the annual shareholder's meeting, although the Board has the authority to set <br /> assessments should the shareholders fail to approve assessments. The Board has the authority to <br /> enforce assessments by ceasing water deliveries, and the eventual forfeiture and sale of shares for <br /> failure to pay assessments. <br />